Econergy International has signed an agreement with HydroPartners LLC that will see it invest approximately US$16.8M into two Brazilian hydro power projects.
The clean energy developer and its affiliates will own at least 85% of the Areia Branca project, which has a planned 19.8MW capacity, under a purchase agreement of 20 years with Eletrobras, Brazil’s government-owned electric company.
Econergy will also own at least 45% of the 20MW Pipoca project. Both plants are in Brazil’s state of Minas Gerais.