GDF Suez (GSZ.PA) announced it has just completed construction of the Sao Salvador hydro-electric plant along the Tocantins River between the States of Tocantins and Goias in northern Brazil.
Sao Salvador is the Group’s 15th power plant in Brazil and it required a EUR 307 million investment. Production for the Sao Salvador Dam , which has a capacity of 148 megawatts (MW), has been sold by auction for a total amount of EUR 2 billion, over a period of 30 years starting in 2011.
"The construction of the Sao Salvador Dam is symbolic of our industrial development in Brazil. For 10 years, GDF SUEZ has been pursuing a dynamic growth strategy mainly focused on energies with low CO2 emissions. With forecasted growth for the country’s electricity demand at over 5% annually until 2015, the Group would like to continue profitable and sustainable growth through new hydro-electric projects, acquisition of existing production assets and development in alternative renewable resources such as biomass," said Gerard Mestrallet, Chairman and CEO of GDF Suez.
GDF Suez also has started building the Jirau hydro-electric power plant, the country’s largest infrastructure project. In May 2008, a consortium led by GDF Suez was rewarded a 35-year concession to build, own and operate this 3,300 MW dam.
One of the leading energy providers in the world, GDF SUEZ is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. It develops its businesses (energy, energy services and environment) around a responsible-growth model to take up the great challenges: responding to energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. GDF SUEZ relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses. The Group employs 196,500 people worldwide and achieved revenues of EUR 74,3 billion in 2007.
Loading...