N O Bioenergia Thermal Power Plant

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The Brazilian J O Bio Energia S.A (wholly-owned by Usina Santa Lucia) was granted the authorization to build and operate a sugar-cane-residue fueled power plant located in the state of Sao Paulo (18 MW in total capacity). The sponsor created the special purpose company N O Bioenergia S.A. to lead the project. A 35-year authorization contract was granted by the regulatory agency ANEEL to J O Bio Energia S.A in February 2016. The government periodically runs public bidding for the sale of energy to the country´s distribution companies. J O Bio Energia S.A won the public bidding that took place in April 2016 by offering an average tariff of US$ 52/MWh (BRL 181.25/MWh). The investment in the power plant was estimated at U$S 6.4 million (R$ 22.4 million). Construction works started in May 2015, and commercial operations commenced in July 2016.