Brascan Energetica Acquires Itiquira Hydropower Plant in Brazil for $120 Million

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Researched by Industrial Info Resources (Sugar Land, Texas)--Brascan Energetica S.A. (Parana, Brazil), a subsidiary of Brookfield Asset Management Incorporated (NYSE:BAM) (Toronto, Ontario), has acquired the 156-megawatt (MW) Itiquira hydropower plant, located in Mato Grosso on the Itiquira River. The $120 million project financing was provided through two companies, the corporate and investment banking Calyon Credit Agricole S.A. (EPA:ACA) (Paris) and Export Development Canada (Ottawa, Canada), a Crown corporation.

The station, which became operational in November 2002, is equipped with two 30-MW and two 47-MW hydraulic vertical axis Francis turbines manufactured by GE Hydro, a business unit of General Electric (NYSE:GE) (Fairfield, Connecticut). The facility was owned by Itiquira Energetica S.A. (Curitiba, Parana), a company created in 1996 to construct and operate the station.

Brascan owns and operates hydroelectric power plants in Brazil with a total power output of 470 MW. The facilities are mainly based in the southern, southeastern and west-central parts of the country and are classified as small hydropower, since all of them have capacities of less than 30 MW. Brascan also has five facilities totaling 125 MW under construction in Brazil.

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