Dona Francisca Hydroelectric Power Project

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Dona Francisca Energetica was awarded the contract to build, own and operate the power plant for a 35-year period (possible extensions of this period are foreseen in the contract). The project involves a 125-MW hydro power plant and a 2.5 KM transmission line, amounting to an investment of US$ 90 million. Financing was achieved with equity from the sponsors (35% of the total cost) and with resources from the IADB, the state-owned bank BNDES, and Bradesco. The financing package from the IADB was awarded in Jan. 2001 and consisted of US$ 10 million as direct loan and US$ 37 million syndication. The project is being developed as a joint-venture of the following companies: Inepar (30%), Gerdau (21.8%), the partially privatized company Copel (23%), the state-owned company Celesc (23%) and Desenvix (2%). The concession contract was signed in Aug. 1998, but construction works started only in Aug. 2000. In Jan. 2001, the first unit of the plant, with capacity of 62.5 MW started operating.