Maracanau II Thermal Power Plant

cancelled

The Brazilian company Lambari Geradora de Energia S.A., a partnership of the Brazilian companies Thermes and Cibe Participacoes (shareholders: Grupo Equipav, 50%; Grupo Bertin, 50%), was granted an authorization to build the 73.7-MW thermoelectric power plant (natural gas) named UTE Maracanau II located in the state of Ceara. The 35-year contract was signed with the regulatory agency ANEEL in March 2008. Lambari Geradora de Energia S.A. committed to invest US$ 93.8 million (BRL 153 million). In April 2011, the company signed a loan contract with SUDENE (the Brazilian northeastern region development agency) worth US$ 42.9 million (BRL 70 million). The company won the bidding for purchase power agreements to sell the electricity to the grid starting in 2011. Construction works were underway, as of August 2011. Due to delays in the implementation of the project, the regulatory agency cancelled the concession contract in December 2012 and applied the due penalties.