Iaco Thermal Power Plant

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The Brazilian company Iaco Agricola S.A. was granted the authorization to build and operate a 31.6-MW sugar-cane residue fueled power plants located in the state Mato Grosso do Sul. The power plant was named UTE Iaco. The 30-year contract was signed with the regulatory agency ANEEL in May 2010. The value of the investment committed to UTE Iaco was estimated at US$ 45.5 million (BRL 74.3 million). UTE Iaco Agricola commenced operations in January 2011, but it would initially use the electricity produced in its own sugar and ethanol producing facility. In February 2011, the company won the public bidding to sell electricity to several distribution companies, by offering a tariff of US$ 43.3/MWh (BRL 102/MWh). The project company signed 15-year power purchase agreements with the several electricity distribution companies starting in March 2014.