A subsidiary of Brazil’s Votorantim Group has won the contract to build a hydro power plant on the Paranapanema river in Sao Paulo state.
Under the contract, awarded by the Brazilian energy agency Agencia Nacional de Energia Eletrica (Aneel), the Votorantim Group’s aluminium subsidiary Companhia Brasileira de Aluminio (CBA) will build a 70MW hydroelectric plant. The plant is expected to cost some R$174M, and it is due to be completed within 48 months of signing the contract. In return for the concession CBA will pay a monthly fee of R$92,000 to the Brazilian government from the fifth to the 35 year of the concession.