The Brazilian government sold operating licenses for four hydroelectric dams to companies from China, France and Italy yesterday [Macau time], fetching nearly USD4 billion in an auction at the Sao Paulo Stock Exchange.
The total paid for the four plants in the state of Minas Gerais was nearly 10 percent more than the government’s minimum asking price.
China’s State Power Investment Corp. will pay $2.4 billion to operate the Sao Simao hydroelectric plant. France’s Engie will pay $1.1 billion to run two plants, Jaguara and Miranda. Enel of Italy was awarded the right to operate the Volta Grande plant after bidding $440 million.
Together the four plants have a total installed capacity of 2,922 megawatts.
Also, 10 Brazilian and seven foreign companies paid a total of $1.2 billion for the right to explore and produce oil and natural gas in 37 of 287 production blocks auctioned by Brazil’s oil regulator.
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