BRAZILIAN CONSORTIUM ENERCAN is now examining a number of financing options for the completion of the 880MW Campos Novos hydroelectric power project.

It is expected that Brazil’s national development bank (BNDES) and the Inter-American Development Bank may provide up to 70% of the equity, while Enercan would provide 30%.

Enercan started Campos Novos construction in June 2001 through a consortium led by Brazil’s Camargo Correa. Equipment is being supplied by ge-hydro Inepar do Brasil, Engevix and CNEC. Diversion of the river Canoas is set for March 2003. Enercan expects to commission the first turbine ahead of the timetable laid down in the concession contract, which states the first turbine must be operating by January 2006.

Enercan is a consortium of CPFL Geracao (74.7%), Parana state integrated power company Copel (16.7%), Rio Grande do Sul state-based distributor CEEE (6.5%) and Santa Catarina state distributor Celesc (2.1%).