Eletrobras denies owing USD 125.7m to Impsa - report

(SeeNews) - Jan 31, 2013 - Brazil's power sector holding company Eletrobras (SAO:ELET3) has denied in a letter to local daily Valor Economico that it owed BRL 250 million (USD 125.7m/EUR 92.7m) to Argentine engineering company Industrias Metalurgicas Pescarmona (Impsa), the daily wrote yesterday.
At the beginning of the week, local and foreign media reported that Impsa has not been receiving payments for the power it supplies to the Brazilian giant from 10 wind power parks with combined installed capacity of 222 MW located in Brazil's southern Santa Catarina state.
The ventures, operated by Impsa's Brazilian wind power arm Energimp, have been generating electricity since the second half of 2011. According to Impsa's vice president Jose Luis Menghini, Eletrobras stopped paying for the supplies in June 2012, when Brazil's energy sector watchdog Aneel introduced new compensation regulation.
Eletrobras, however, affirmed to Valor, that it was currently analysing some inconsistencies related to the supply contracts with Impsa and that it would inform the Argentinian player about the result as soon as it completed the said assessment.
The wind parks in question are part of the Brazilian Programme of Incentives for Alternative Electricity Sources (Proinfa) and have cost around BRL 1.3 billion.
(BRL 1 = USD 0.503/EUR 0.371)

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