Brazilian electric power utility company, Electrobras plans to build new hydro power stations in Nigeria.

The firm is due to sign memorandum of understanding (MoU) with the Nigerian federal government on the possibility of investing in Nigeria’s power sector.

The Brazilian Development Bank, which provided funding for infrastructural development in Brazil will also sign MoU with the Bank of Industry (BoI) on exchange of critical technical expertise.

The firm is currently expanding its operations in the Latin American continent, as well as in Africa, reports