Lightger Paracambi HPP

active

The Brazilian company Lightger S.A., a subsidiary Light S.A. (51%) and the state-owned company Cemig (49%), was granted an authorization to build a 30-MW hydro power plant located in the state of Rio de Janeiro (municipality of Ribeirao das Lajes). As of 2011, Light S.A. shares were under control of EDF. The power plant was named PCH Paracambi. In February 2001, the company signed a 30-year contract with the regulatory agency ANEEL allowing the company to operate in the electricity market as a independent producer. This authorization granted the sponsor with the right to sell electricity in the Brazilian wholesale market. The electricity produced by PCH Paracambi was set to be sold entirely to the electricity distribution company Light S.A. Lightger committed to invest US$ 110 million (BRL 185 million) in the PCH Paracambi. In September 2011, the company was granted a US$ 74.7 million (BRL 125.6 million) loan contract from BNDES, a state-owned development bank. Construction works on this plant started in January 2010 and, as of August 2011, were still underway. Operations commenced in July 2012.