Anhanguera Small Power Plant

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The Brazilian company Sociedade de Energia Bandeirantes (SEBAND) was granted an authorization to build a 22.68-MW small hydro power plant in the state of Sao Paulo (Sapucai river, municipality of Sao Joaquim da Barra and Guara). The 30-year contract was signed with the regulatory agency ANEEL in October 2002. In 2003, the sponsor along with its parent company Pleuston Servicos Ltda (which held 62.5% of SEBAND’s shares) created the company Central Eletrica Anhanguera (CELAN) to lead the project. In March 2009, the company Volkswagen do Brasil S.A. acquired shares of CELAN from SEBAND, such that the ownership structure of the company by the end of the year was as follows: Volkswagen (40%), SEBAND (33%) and Pleuston (27%). CELAN committed to invest US$ 50 million (BRL 100 million) in the construction of PCH Anhaguera. Though the construction works commenced in 2008, financial closure was only achieved in June 2009, when CELAN was granted a US$ 36.3 million (BRL 72.5 million) loan from the state-owned bank BNDES. As of 2009, operation of the facility was expected to commence in the second semester of 2010.In December 2010, the power plant commenced operations.