Companhia Energetica Rio das Antas (CERAN)

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The consortium Companhia Energetica Rio das Antas (CERAN), won a 35 years concession to build and operate the three hydroelectric power plants in the Rio das Antas River, in the Rio Grande do Sul state. The power plants are, 100 MW Hydroelectric 14 de julho in the city of Bento Goncalves, 130 MW Hydroelectric Castro Alves in the city of Nova Padua and 130 MW Hydroelectric Monte Carlo in the city of Veranopolis. The consortium is composed by CPFL Energia (65 percent), Companhia Estadual de Energia Eletrica (30 percent) and Desenvix SA (5 percent). The consortium offered the winning bid of US$ 40.3 million (R$ 92.8 million) in the Aneel’s (Brazilian energy regulatory agency) auction, which will be paid in annual installments until the end the concession period. The concession contract was award by Aneel in February of 2001. The construction of the Monte Claro power plant (130MW) was initiated in April of 2002 and concluded in January of 2005. The construction of the Castro Alves power plant (130MW) is expected to be launched in October 2006 and expected to start operations in February of 2007. The construction of 14 de Julho is expected to be initiated in October of 2004 and concluded in August of 2007. The project reached financial closure in December 2003, when the Brazilian Development Bank, BNDES, approved a US$148.2 million (R$ 435.8 million) loan to CERAN. The total investments in the project are estimated at US$ 223.7 million (R$658 million). None None