INCaF Brascan Energetica S.A.

completed

Brascan Energetica S.A. (BESA), Brazil, is an indirectly-owned subsidiary of Brascan Power Corporation, a leading developer of renewable energy projects in North America. BESA focuses on the development, ownership and operation of small-scale hydro-power generation plants in Brazil, where the Brascan Group already has an established position in the investment banking, real estate and agribusiness sectors. BESA was established as an independent power producer in Brazil in 1999, leveraging the strong presence of the Brascan Group in Brazil. The company has projects in several states in Brazil, which it operates and monitors remotely from its operations center at its headquarters in Curitiba in Parana state via satellite links. Presently BESA owns 5 operational projects with installed capacity of 101 MW and one green field in the final phase of construction. BESA is implementing Clean Development Mechanism (CDM) projects based on run-of-river hydro generation assets that are displacing fossil fuel based generation in the Brazilian grid. The total installed capacity of the projects is presently 101.4 MW (made up of 5 plants whose capacity range from 15 to 30 MW of capacity). A sixth project (installed capacity of 27 MW) is in its final implementation phase and starts operations at the end of Q1 2005. The CDM projects bundled together will enable BESA to sell Certified Emissions Reductions (CERs) under the CDM of the Kyoto Protocol. IFC via the NetherlandsCarbon Facility is planning to purchase CERs from the project.