Salto do Curua Small Hydro Power Plant

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The Brazilian company Eletrotecnica Tangara Ltda (ELTAN) was granted an authorization to build and operate a 30-MW small hydro power plant located in the Curua River, state of Para (in the municipality of Altamira). The 30-year contract was signed with the federal regulatory agency ANEEL in July 2002. ELTAN committed to invest US$ 86.2 million (BRL 168.2 million) in the construction of PCH Salto Curua. Financial closure for the project was reached in 2007 when the company was granted a US$ 62.2 million (BRL 121.4 million) syndicated loan by the state owned bank BNDES. The remaining cost was set to be financed with the sponsors’ internal resources. The special purpose company Curua Energia S.A. was created to manage the project. In 2007, the ownership of Curua Energia was transferred to Mafe Energia e Participacoes S.A. Construction works on the power plant started in 2007, and the unit became operational in 2008. Curua Energia signed a power purchase agreement with the state-owned company Eletrobras for 20 years through the Brazilian Federal program PROINFA (incentive program for alternative power generating companies) but the contract was revoked soon after the signing.

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