Energia Norte Project

active

The project involved the construction and operation of 64 diesel power plants that would generate electricity to be provided to 82 isolated towns in the states of Para, Rondonia and Acre (nothern region of Brazil). The electricity generated was set to be sold under power purchase agreements with each state electricity distribution company: 12-year PPA contracts have been signed with Ceron (Rondonia) and Electroacre (Acre); and a 15-year PPA contract was signed with Celpa (Para). The project was developed as a joint-venture of Guascor (55%), Inepar (30%) and the state-owned company Eletrobras (15%). It involved a total investment of US$ 90 million, of which US$ 60.9 million was financed by the IADB (this financing package was approved in Oct. 2000: US$ 23.7 million as direct loan and US$ 37.2 million as syndication). The installation of the units in the state of Para were concluded in early 1999.