Brazil's Neoenergia to Invest $2.04 Billion in Energy Sector in 2012

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Researched by Industrial Info Resources (Sugar Land, Texas)--Grupo Neoenergia (Rio de Janeiro, Brazil) plans to invest $2.04 billion next year in electrical energy distribution and the expansion of its generating facilities. The amount is 81% more than the $1.13 billion invested in 2011.

Neoenergia will invest $1.02 billion in energy distribution; $431 million in the connection of 400,000 new customers to the national grid and in the construction of 10 new substations to the grid; and $307 million in the program dubbed "Light for All," which consists of rural connections that will benefit 25,000 new customers. In addition, $263 million will be applied to maintaining current operational quality standards.

Neoenergia will assign an identical $1.02 billion to the expansion of its generating facilities. The company's current power output is 1,588 MW and there are several power stations under construction, like the Teles Pires Hydro (1,820 MW), in which the group has a 50.1% share, and Belo Monte (11,233 MW), in which Neoenergia has a 10% share.

Other projects include 10 windfarms in the states of Bahia and Rio Grande do Norte, for which Neoenergia is working with Iberdrola S.A. (MCE:IBE) (Bilbao, Spain). These projects have an installed capacity that totals 288 MW.

Neoenergia is the largest private group in northeastern Brazil's power sector. The group was formed in 1997 and spans power distribution, generation and trading services. Its distribution area covers the Bahia, Pernambuco and Rio Grande do Norte states.

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