Palmeiras de Goias Thermal Power Plant

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The Brazilian company Engebra – Empresa de Energia do Brasil Ltda was granted an authorization to build and operate an oil fueled power plant located in the state of Goias (174.3 MW in total capacity). The 35-year contract was signed with the regulatory agency ANEEL in September 2007. Engebra created a special purpose company named Usina Termelétrica Palmeiras de Goias Ltda to lead the project. In 2006, Usina Termeletrica Palmeiras de Goias Ltda took part in a competitive bidding process and won the right to supply 69 MW of electricity on average to the regulated market starting in 2011. In January 2011, Engebra sold its shares on Usina Termeletrica Palmeiras de Goias to Bolognesi Participacoes S.A. The sponsor committed to invest US$ 162.3 million (BRL 273 million) in the construction of the power plant. Construction works started in the end of March 2011 and were concluded in October of the same year. Commercial operations commenced in July 2012.