Eletrobras plans hydroelectric units in Nigeria

Brazilian electric utility Eletrobras (NYSE: EBR) said it plans to build hydroelectric energy stations in Nigeria.

According to Energy Business Review, Eletrobras will sign a Memorandum of Understanding with the Nigerian federal government on the possibility of investing in the country’s power sector. The Brazilian Development Bank will also sign an MOU with the Bank of Industry on exchange of critical technical expertise, the article said.

Eletrobras is also expanding its operations in the Latin American region as well as in Africa.

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