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Engie wins €950m contracts for two hydro power plants in Brazil

Published 29 September 2017

Private power producer Engie Group has won concession contracts from the Brazilian government for two hydro power projects.

The 30-year concession contracts are worth €950m (BRL3.531bn).

The contracts have been signed for the 424MW Jaguara hydro power project, located on Rio Grande between the states of Minas Gerais and São Paulo, and the 408MW Miranda hydro project, located at Rio Aragui in Indianápolis (Minas Gerais state).

The two projects will increase the installed capacity of Engie from 10,290MW to 11,122MW.

Engie Brazil CEO Maurício Bähr said: “These contracts are a tremendous success that represent a great growth opportunity for Engie, in line with the group ambition to develop low carbon power production.”

“These two plants have a strategic location for Engie’s growth as they are in the southeast region where we already have other plants and activities,” Bähr said.

Engie is a major private power producer in Brazil, with an installed capacity of more than 11GW. Clean, renewable sources account for 90% of the group’s installed capacity in the country. The company’s low carbon footprint has been strengthened with the construction of new wind farms in the northeast and the operation of the 3,750MW Jirau plant, one of the largest hydro plants in Brazil, on the Madeira River at Rondônia.

The Engie Group also has presence in the solar distributed generation market in Brazil.

The group provides services related to energy efficiency, engineering and integration of systems, public lighting and urban mobility for smart cities.

The Engie Group has operations in 70 countries, and reported revenues of €66.6bn in 2016.