ENGIE Brasil Energia has agreed to purchase two additional hydropower plants in the country, a move that will add a further 612MW of installed capacity to the company’s generator capacity.
The two plants are Santo Antônio do Jari Hydropower Plant, between the municipalities of Laranjal do Jari in Amapá and Almeirim in Pará, and the Cachoeira Caldeirão Hydropower Plant in Amapá.
The transaction valued at roughly BRL2.9bn ($506m), including BRL$2.3bn in equity and BRL671m in net debt. Both plants are fully contracted within the regulated market.
ENGIE Brasil Energia CEO Eduardo Sattamini said: “We remain committed to the sustainable and responsible growth of our portfolio. The acquisition of these two assets is fully aligned with our strategic focus on strengthening our position in the electricity sector, increasing the weight of hydropower plants in our generator park and extending the average term of concessions with fully contracted long-term capacity in the regulated market environment.”
The integration of these facilities bolsters ENGIE’s generator park, which now encompasses 11.3GW across 115 plants, with a diverse mix of 11 hydroelectric and 104 plants powered by biomass, small hydropower plants (SHPs), wind, and solar energy.
The Santo Antônio do Jari plant, operational since 2014 with a 393MW installed capacity, has a concession valid until October 2045. It sells its energy through two contracts from the 11th and 15th New Energy Auctions.
The Cachoeira Caldeirão plant, with a 219MW installed capacity, began operations in 2016. It has a concession until August 2048, with energy contracted at the 15th New Energy Auction.
In January this year, ENGIE announced a planned expansion of its flagship wind farm project in Egypt from 500MW to 650MW.
