Enel Brasil has received the concession through public tender conducted by the Brazilian Electricity Regulatory Agency ANEEL.
Once the concession is signed, the company will invest around $445m to increase its hydro capacity to 1,270MW from the current 890MW.
Enel will acquire the hydro facility in January 2018. Thereafter, it will be managed by Enel Green Power Brasil Participações.
The Volta Grande facility, which commenced operations in 1974, generates 2.02TWh of energy per annum.
Enel Group’s subsidiaries Enel Green Power Brasil Participações and Enel Brasil hold an installed renewable capacity of about 2,276MW in Brazil. Wind power contributes 670MW of this capacity, while solar PV and hydropower account for 716MW and 890MW, respectively.
In addition, about 275MW of capacity is currently under development, of which 172MW comes from wind and 103MW from solar power.
In the conventional generation sector, Enel Geração Fortaleza operates a 327MW thermal power plant in Ceará.
Enel Group also provides distribution services to about 10 million Brazilian customers through Enel Distribuição Rio, Enel Distribuição Ceará and Celg D.
Enel Green Power head Antonio Cammisecra said: “Following the successful completion of twelve out of the 14 projects we have been awarded since 2010 in renewable tenders, this achievement represents yet another important milestone in our growth strategy for Brazil where we are building a well-balanced and diversified renewable portfolio.”
