Suez to acquire Brazilian hydro power plant

19 December 2007 - Electricity utility Suez Energy International has signed a €228.6m ($329m) shares purchase agreement for the acquisition of 100 per cent of Ponte de Pedra, a 176 MW hydro power plant on the Correntes river between the states of Mato Grosso do Sul and Mato Grosso in Brazil.

Upon the finalization of the agreement, Ponte de Pedra will be owned by Tractable Energia, a Suez Energy International company operating in Brazil.

The plant has been in commercial operation since September 2005 and was owned by Impregilo, an Italian engineering company and Skanska, a Swedish construction group. The transaction is subject to approval and is expected to close by February 2008.

The facility is connected to the Brazilian interconnected system by a 140 kilometer 230kV transmission line. The concession contract is valid until 2034, with the possibility for an additional 20-year renewal. The total output of the power station is sold under a 20-year power purchase agreement until 2025 to Cemig, a Brazilian state distribution company.

Dirk Beeuwsaert, CEO of Suez Energy International, said: "The acquisition of Ponte de Pedra is in line with our growth objectives in the Brazilian power generation sector through sustainable and renewable sources of energy."

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