Suez Energy wins bid for hydroelectric power plant in Brazil

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A consortium led by French-Belgian multinational Suez Energy won the public bidding to build a hydroelectric power plant in the Amazon rainforest region.

The Suez group, Consorcio Energia Sustentavel, offered to produce energy at 71.4 reals ($43.53) per megawatt hour, 21.6% below the auction's established price cap.Jirau Energia, the rival consortium, offered 78.9 reals ($48.1) per megawatt hour.

Suez Energy holds a 50.1% stake in the winning bidder, which is also comprised of Brazilian companies Camargo Correa Investimentos, Eletrosul Centrais Eletricas and Companhia Hidreletrica do Sao Francisco.

Victor-Frank Paranhos, president of the consortium, said technical studies allowed a reduction of 1 billion reals ($602 million) in the total cost of the project, initially estimated at 8.7 billion reals ($5.2 billion).

The Jirau power plant, which will be built on the Madeira river, should have a capacity of 3,300 megawatts of power when completed in 2013. (Xinhua)

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