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10 July 2008 - Tractebel Energia, Suez Energy International's subsidiary in Brazil, has signed a share purchase agreement for the acquisition of two small hydroelectric plants with a total installed capacity of 50.3 MW.
The two plants Rondonópolis (26.6 MW) and José Gelázio (23.7 MW), which are already in commercial operation, are located in central Brazil, close to Tractebel Energia's Ponte de Pedra plant (176 MW), which was recently acquired.
The plants are contracted to sell their electricity to Eletrobras, the major Brazilian power utility under 20-year power purchase agreements (PPAs) until 2027.
These PPAs are part of the Brazilian PROINFA programme, which aims to increase the amount of power generated by wind, small hydro and biomass in the overall power generation mix.
Tractebel Energia has paid 314m BRL ($195m) for the two plants, made up of 204m BRL of equity and a net financial debt of 110m BRL.
It is expected that the deal will be closed by the end of this year, after the approval of the change of ownership by Eletrobras, the lenders (Caixa Econômica Federal, Bradesco and Banco do Brasil) and Agência Nacional de Energia Elétrica (ANEEL), the Brazilian energy sector regulator.
The CEO of Tractebel Energia, Manoel Zaroni said: "With this acquisition, the company has consolidated its position as the leading operator of renewable power assets in Brazil, with a total installed capacity of 7096 MW of which more than 80 per cent is hydro."
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