Energetica Serra da Prata (ESPRA)

active

The Brazilian company Consorcio Enerbras and WM (Enerbras Comercializadora de Energia Ltda. and Water Mark Engenharia e Sistemas Ltda.) was granted authorizations to build three small hydro power plants located in the state of Bahia (41.8 MW in total capacity). The 30-year contracts were signed with the federal regulatory agency ANEEL in December 2003. In the same year, a Specific Purpose Company was created to managed the projects: Energetica Serra da Prata (ESPRA). The Brazilian company Renova Energia S.A. initially owned 86% of ESPRA’s shares, but by 2006 Renova acquired ESPRA’s entire control. The power plants began construction in 2006, and all three units became operational in January 2008. They are located in the state of Bahia: PCH Colino I (11MW) and PCH Colino II (16MW) at Colino river and PCH Cachoeira da Lixa (14.8MW) at Jucurucu river. Energetica Serra da Prata S.A. committed to invest US$ 86.7 million (BRL 189.2 million) in the construction of the three PCHs. In July 2006, ESPRA signed a US$ 58.2 million (BRL 127 million) contract with BNB (Banco do Nordeste), the Northeastern Region Development Bank. The amount was released through FNE, a fund designed to finance renewable energy sources. All PCH´s signed power purchase agreements with the state-owned company Eletrobras for 20 years through the Brazilian Federal program PROINFA (incentive program for alternative power generating companies).