Engie Brasil Energia has acquired 612 MW of hydro power generation capacity with the purchase of two power plants in Brazil. The BRL2.9bn (US$510m) deal comprises the acquisition of the Santo Antônio do Jari and the Cachoeira Caldeirão hydroelectric power plants, located in the Brazilian states of Amapá and Pará.
The 393 MW Santo Antônio do Jari Hydroelectric Power Plant (commercial capacity of 211 MW), located in Northern Brazil, started its commercial operation in 2014 and its concession expires in October 2045. Its energy is fully contracted in the Regulated Contracting Environment (ACR) in two contracts: 190 MW in the 11th New Energy auction in 2010 and 20.9 MW in the 15th New Energy auction in 2012. The 219 MW Cachoeira Caldeirão Hydroelectric Power Plant (commercial capacity of 123 MW) is also located in the north of Brazil and began operations in 2016 with a concession until August 2048. The contracting of 130 MW took place in the 15th New Energy auction in 2012.
The acquisition is fully aligned with Engie’s strategic focus on strengthening its position in the electricity sector by increasing the weight of hydroelectric plants in its portfolio and extending the average term of concessions with fully contracted capacity in the long term in the regulated market. Engie’s portfolio in Brazil has 11.3 GW of generating capacity, of which 9.6 GW have its own installed capacity, composed of 115 plants, 11 of which are hydroelectric and 104 from complementary sources such as biomass, small hydro plants, wind and solar sites.
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