Companhia Energetica Rio das Flores HPPs

active

The Brazilian company Companhia Energetica Rio das Flores S.A., a partnership of the state controlled Celesc (25%) and several private investors (75%), was granted authorizations to build three small hydro power plants located in the state of Santa Catarina (9.6 MW in total capacity). The 30-year contracts were signed with the regulatory agency ANEEL in May 2009. The power plants were named PCH Bandeirantes, PCH Prata and PCH Belmonte. A special purpose company was established to manage the first project and was named Companhia Energetica Bandeirante S.A. The other projects were set to be managed directly by Companhia Energetica Rio das Flores S.A. The sponsors committed to invest US$ 35.7 million (BRL 60 million) in the construction of the power plants. PCH Prata was the first to be constructed and involved an investment of US$ 11.9 million (BRL 20 million). Construction works on this plant were concluded in July 2011. The construction works on the other plants were underway, as of August 2011. The power plants established power purchase agreements with Celesc, and committed to start supplying power in January 2012.