The plant was unveiled yesterday in a ceremony attended by Brazilian President Dilma Rousseff and Chairman and CEO of GDF Suez, Gerard Mestrallet.
The major new hydro plant is owned by Tractebel Energia (40.07%), Vale (30%), Alcoa (25.49%) and Intercement (4.4%). Tractebel Energia is responsible for the operational management on behalf of the consortium.
Estreito is located on the Tocantins river between the states of Tocantins and Maranhão, downstream from the São Salvador (243MW) and Cana Brava (450MW) hydro plants, which are both owned and operated by Tractebel Energia. The plant is part of the Brazilian Government’s Program for the Acceleration of Growth (PAC), and it has therefore benefitted from favorable finance conditions under this priority program.
Total investment in the project is approximately EUR2.1B, with debt financing through 24-year loan agreements provided by the Brazilian Development Bank (BNDES) and a group of Brazilian banks. This project represents a significant commitment in social and environmental programs, totaling EUR180M, aimed at providing better living standards for the local population as well as the protection of fauna and flora.
