China’s State Power Investment Corporation Adds Power Plants in Brazil

 

China’s State Power Investment Corporation (CSPIC) is reportedly in talks to acquire two more electric plants in Brazil, while also considering a bid for two coal-fired thermal plants owned by French group Engie SA.

 

One of the hydroelectric plants negotiated by CSPIC is Usina Três Irmãos, an 800 MW dam in the state of São Paulo, controlled by Brazilian infrastructure group TPI-Triunfo Participações e Investimentos SA, according to business newspaper Valor Economico.

 

A source quoted by the newspaper added that a negotiation with Triunfo would not be easy, as the company is facing an investigation by the Brazilian Public Prosecutor’s Office, into its highway operation, under corruption probe.

 

The Chinese electric company is also expected to present a binding offer by the end of the month to control the Santo Antônio hydroelectric plant, in the state of Rondônia. Negotiations for the acquisition of the dam have been taking place for almost two years.

 

State Power is also considering a bid for two coal-fired thermal plants owned by French group Engie SA in the states of Santa Catarina and Rio Grande do Sul in southern Brazil, which were put up for sale six months ago.

 

Adriana Waltrick, head of State Power in Brazil, told Reuters in May that the company wanted to continue investing in acquisitions after paying USD 2.25 billion for a license to operate the São Simão hydroelectric plant, previously managed by the state-owned Companhia Energética de Minas Gerais

 

State Power, Triunfo and Engie did not immediately respond to requests for comment.

 

 

Photo: Usina Três Irmãos, São Paulo state

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