Engie takes full control of 832 MW of HPPs in Brazil

Engie Brasil Energia SA (BVMF:EGIE3) is taking full control of two hydropower plants (HPPs) with a combined capacity of 832 MW.

Located in Brazil's Minas Gerais state, the 424-MW Jaguara and the 408-MW Miranda plants were secured during last September's HPP concession tender. The local arm of French energy group Engie (EPA:ENGI) bid BRL 3.5 billion (USD 1bn/EUR 883.8m) in total for both facilities, the company said on Thursday.

Previously held by Brazilian utility Cemig (BVMF:CMIG4), the HPPs will now be operated by Engie for a 30-year period, according to the guidelines established by the auction.

On Wednesday, the company also switched on a 30-MW photovoltaic (PV) plant in Rio Grande do Norte state. Currently, Engie Brasil has an installed capacity of 11,059 MW, which represents about 6% of the overall electricity generation in Brazil.

(BRL 1 = USD 0.302/EUR 0.253)

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