Chinese business groups compete for purchase of a stake of a power company in Brazil

Chinese business groups compete for purchase of a stake of a power company in Brazil

07/09/2016 source “MacauHub”

The Chinese business groups China Three Gorges and China State Grid and the Canadian group Brookfield Asset Management presented independent proposals to buy a stake of 28,6% in the Brazilian company Santo Antonio Energy, reported Chinese media.

The hydropower station of San Antonio, currently being built on the Madeira River, will have a power generation capacity of 3150 megawatts, enough to supply 40 million people, according to information released by the company. Once put in service, it will be the third largest hydroelectric power station in Brazil in terms of electricity generation and the sixth largest in terms of installed capacity.

Santo Antonio Energia is the concessionaire responsible for the construction and hydroelectric operation – one of the first major works of the Growth Acceleration Program to enter into operation. The project brings together leading Brazilian companies in the construction and operation of hydroelectric power stations: Furnas Power Plants (39%), FIP Amazonia Energy Caixa (20%), Odebrecht Energia of Brazil (18.6%), SAAG Investments (12.4%) and Cemig Generation and Transmission (10%).