Desenvix Small Hydro Power Plants

active

The Brazilian company Desenvix, a wholly-owned subsidiary of Jackson Empreendimentos, was granted authorizations to build four small hydro power plants located in the states of Santa Catarina, Rio Grande do Sul and Rio de Janeiro (80.9 MW in total capacity): PCH Santa Rosa II (30 MW), located at the state of Rio de janeiro; PCH Santa Laura (15 MW), located at the state of Santa Catarina; PCH Esmeralda (22.2 MW) and PCH Moinho (13.7 MW), located at the state of Rio Grande do Sul. The 30-year contracts were signed with the regulatory agency ANEEL over the years since May 2001. The construction of PCH Esmeralda involved an investment of US$ 43.2 million (BRL 72.6 million) financed with a loan from the state-owned development bank BNDES (US$ 32.9 million or BRL 55.4 million) granted in June 2005 and the sponsor own resources. In 2006, PCH Esmeralda signed power purchase agreements arranged with the state-owned company Eletrobras for 20 years through the Brazilian Federal program PROINFA (incentive program for alternative power generating companies). This power plant commenced operations in December 2006. The construction of PCH Santa Laura involved an investment of US$ 39.1 million (BRL 65.8 million) financed with a loan from the state-owned development bank BNDES (US$ 24.3 million or BRL 40.8 million) granted in October 2006 and the sponsor own resources. In 2007, PCH Santa Laura signed power purchase agreements arranged with the state-owned company Eletrobras for 20 years through the Brazilian Federal program PROINFA (incentive program for alternative power generating companies). This power plant commenced operations in October 2009. The construction of PCH Santa Rosa II involved an investment of US$ 82.6 million (BRL 139 million) financed with loans from the state-owned development bank BNDES and the private bank Bradesco (total of US$ 52.8 million or BRL 89 million) granted in August 2008 and the sponsor own resources. In 2008, PCH Santa Rosa II signed power purchase agreements arranged with the state-owned company Eletrobras for 20 years through the Brazilian Federal program PROINFA (incentive program for alternative power generating companies). This power plant commenced operations in July 2008. The construction of PCH Moinho involved an investment of US$ 55.3 million (BRL 93 million) financed with loans from the state-owned development bank BNDES and the private bank Bradesco (total of US$ 28.4 million or BRL 47.8 million) granted in May 2010 and the sponsor own resources. PCH Moinho signed power purchase agreements to sell electricity to the grid for 19 years starting in August 2011. This power plant commenced operations in September 2011.