Petrolina Power Plant

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The project comprises the construction and operation of a 128MW thermal power plant (fuel oil) in Candeias, the state of Bahia. The company responsible for the project is Companhia Energetica de Petrolina, controlled by Cisa Trading, a subsidiary of Grupo Coimex. In October 2002 the plant was inaugurated. The estimated total costs were US$103 million. ABN Amro Bank provided US$47.5 million In January 2002, Petrolina signed a PPA with the Brazilian Commerce Chamber for Emergency Energy (CBEE), which is a three-year take-or-pay contract for the full capacity of the plant. Petrolina power plant is part of a priority program for thermal power plants (Programa Prioritario de Termeletricas), implemented by the Brazilian federal government in 2000. The program, in order to foster the construction of thermal power plants, provides a short-term take-or-pay contract and, in some cases, financing for the construction of the plants (through the Brazilian Development Bank, BNDES). As of December 2009, the shareholding structure of the project company had changed to: Grupo Coimex (35%), Comvix Tradind SA (25%) Caraiva Participacoes (20%) and Vale do Lobo Participacoes (20%). Sponsors names need to be added