Noble Sao Paulo Biomass Plants

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The company Noble Brasil S.A., a subsidiary of the Noble Group (Hong Kong), was granted authorizations to build and operate two sugar-cane-residue fueled power plant located in the states of Sao Paulo (90 MW in total capacity). The 30-year contracts were signed with the regulatory agency ANEEL in May 2010. The sponsors created the special purpose company Noble Brasil S.A. to manage the projects: * UTE Noble Energia II (30 MW) * UTE Meridiano (60 MW) Investment commitment was not available. The construction works on the power plants were concluded in October 2010. At that time, the power generated was sold only for large consumers. In August 2011, Noble Energia S.A. took part in a competitive bidding process and won the right to sign power purchase agreements with electricity distribution companies by offering the rate of US$ 61/MWh (BRL 99.61/MWh). These contracts were set to became into effect in 2014. Also in August 2011, BNDES granted loans to finance infrastructure works in the power plants and in the additional industrial facilities that belonged to Noble Brasil S.A. (sugar cane processing units). The loan was worth US$ 250.6 million (BRL 409 million). Check why inv is 140. Local public bank figure was removed as it exceeded total inv.