(SeeNews) - Feb 26, 2014 - Brazil's electricity utility Tractebel (BVMF:TBLE3) yesterday announced it has completed the acquisition of the 65.5-MW biomass thermoelectric power plant (TPP) Ferrari, located in southeastern Sao Paulo state.<br /> Tractebel paid for the plant BRL 161 million (USD 68.8m/EUR 50m) on February 20, of which BRL 34 million are now in a guaranteed account and will be transferred when certain conditions are fulfilled. The remaining BRL 11 million will be paid by September 2014.<br /> The plant, which uses sugar cane bagasse as fuel, started operations in June 2009.<br /> (BRL 1.0 = USD 0.427/EUR 0.311)