Petrobras Completes Acquisition of Juiz de Fora Thermoelectric Plant

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Researched by Industrial Info Resources (Sugar Land, Texas)-- Petrobras (NYSE:PBR) has completed its acquisition of a thermoelectric plant from Juiz de Fora S.A. that was previously held by Energisa S.A. The $120 million investment included Energisa's $30 million debt with Brazil's National Bank for Economic and Social Development. The business contract was signed in October 2007, and the acquisition was concluded at the end of December 2007. Along with the shares of the Juiz de Fora plant, the rights were transferred to Petrobras Energia to commercialize energy with Energisa's subsidiary in the northeast region in Brazil.

The thermoelectric plant, which was inaugurated in 2001 and has 87 megawatts of installed capacity, is a simple-cycle plant and is also the first in Minas Gerais state to work with natural gas as a primary fuel type. Natural gas at the plant is provided by Companhia Energetica de Minas Gerais (NYSE:CIG). The Juiz de Fora plant has supply contracts until 2022.

The plant is located in the Industrial District of Juiz de Fora.

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