Adami Vitor Batista HPP

active

The Brazilian company Passos Maia Energetica S.A., a subsidiary of Adami S.A., was granted an authorization to build a small hydro power plant located in the state of Santa Catarina (25 MW in total capacity). The 30-year contract was signed with the regulatory agency ANEEL in March 2004. Energetica Passos Maia committed to invest US$ 63 million (BRL 126 million) in the construction of the power plant. In December 2009, the sponsor began the construction works and the plant was set to start operations in January 2012. In April 2011, the state-owned development bank BNDES approved a US$ 53.1 million (BRL 86.6 million) loan to the project. In May 2011, Adami S.A. sold half of its participation in the project to Desenvix Energias Renovaveis S.A. PCH Vitor Batista Adami signed a 14-year power purchase agreement with the state-owned distribution company Cemig Geracao e Transmissao S.A. in 2009. As of August 2011, construction works were underway. Operations commenced in February 2012.