Brazil’s state-owned power holding group Centrais Electricas Brasileiras (Eletrobras) plans to invest Real 4.64 billion ($1.7 billion) in 2005, of which Real 1.8 billion will be allocated to generation, Real 1.8 billion ($1.7 billion) to transmission and around Real 130 million ($1.7 billion) on distribution. Eletrobras controls Brazil’s largest generation companies, including Chesf, Eletronorte, Eletronuclear and Furnas, and also acts as a financing agent for the power sector.