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Deal completed to make Chinese company 2nd largest private power generator in Brazil

(People's Daily Online)    13:23, January 07, 2016
Deal completed to make Chinese company 2nd largest private power generator in Brazil
(File Photo)

China's Three Gorges Corporation (CTG) has signed a deal with Brazil on Jan. 6 (Beijing time) for a 30-year operation of two of the country's hydropower plants, with a combined installed capacity of 4.995 million kilowatts, Xinhua News Agency reported on Wednesday. 

The CTG and Brazil's Mines and Energy Ministry inked the agreement, which allows the CTG to acquire a controlling stake in two of Brazil's hydroelectric power plants, the Jupiá and Ilha Solteira plants.

The new deal makes the installed capacity of China's Three Gorges Corporation in Brazil 6 million kilowatts, making it the country's second largest private power generation company. 

The two hydropower plants are located on the border between the states of São Paulo and Mato Grosso do Sul. They have installed capacities of 1.551 million kilowatts and 3.444 million kilowatts respectively. Both have sound investment and operational benefits. 

In order to increase revenue, the Brazilian government announced a concession auction in October of 29 operational hydropower projects with combined capacity totaling 6 million kilowatts. China Three Gorges Corporation was awarded concessions for the two hydroelectric power plants on Nov. 25, 2015. 

Currently, the overseas controlled and equity-based installed capacity of the TGC has surpassed 11 million kilowatts. This new acquisition indicates that the TGC is on its way to becoming a world leader in hydropower generation. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Liang Jun,Bianji)

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