Brazil's Neoenergia to Invest More than $1 Billion in Energy in 2008

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Researched by Industrial Info Resources (Sugar Land, Texas)--Grupo Neoenergia (Rio de Janeiro, Brazil) plans to invest $1.13 billion this year in electrical energy distribution. The investment will fund the addition of 600 megawatts (MW) to the National Interlinked System, which includes the 140 MW Baguari (Minas Gerais) and 261 MW Dardanelos (Mato Grosso) hydroelectric dams, and the 93.6 MW Corumba III plant in Mato Grosso.

Neoenergia also will invest $144 million in the Small Hydroelectrical Centers (PCH) (western Bahia), which acquired authorization along with Brascan Energetica (Curitiba, Brazil). The first undertaking will be PCH Sitio Grande on the Femeas River in Sao Desiderio County about 860 kilometers from Salvador. This will be a $72 million investment in a unit with 25 MW of installed capacity and assured energy of 19.6 MW to be distributed in the free market.

The company aims to reach 1,463 MW in 2010.

Neoenergia is the largest private group in the power sector in northeastern Brazil. The group was constituted in 1997 and offers power distribution, generation and trading services. With a total power output of 991.2 MW, the company distributes energy to 768 cities in Bahia, Pernambuco and Rio Grande do Norte states.

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