MPX and E.ON has agreed to create a 50/50 joint venture (JV) which will develop power generation and related supply and trading activities in Brazil. The partnership between E.ON and MPX aims to develop a total capacity of 20 GW in Brazil and Chile, thus becoming the largest private energy company in Brazil. The generation capacity planned represents around 20% of the total current capacity of Brazil.
The JV between E.ON and MPX will be responsible for all thermal and renewable energy projects in Brazil and Chile, as well as related supply and trading activities. MPX owns 11,000 MW in projects already licensed that will be partially contributed to the JV with 50 percent of the following projects: Açu Power Projects in Rio de Janeiro (5,400 MW), Castilla Project at Chile (2,100 MW), Sul and Seival Power Plants in Rio Grande do Sul (1,300 MW) and the TPP Parnaíba expansion in Maranhão (2,200 MW). In addition, for the Açu Power Projects, E.ON will have a call option on behalf of the JV for additional 38.9% of the project at book value, thus enabling each of the partners to achieve a 50% economic interest in the project.
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