Sao Domingos II Hydro Power Plant

active

The Brazilian company Santa Cruz Power Corporation Usinas Hidroeletricas S.A., a wholly-owned subsidiary of the American company Contour Global, was granted an authorization by the regulatory agency ANEEL to build a small hydro power plant located in the state of Goiás (24.3 MW in total capacity). In November 2001, Santa Cruz Power Corporation Usinas Hidroeletricas S.A. signed a 30-year contract with ANEEL allowing the company to operate in the electricity market as a independent producer. This authorization granted the sponsor with the right to sell electricity in the Brazilian wholesale market. In June 2006, the company took part in a competitive bidding process to sell electricity to the regulated wholesale market (15-year power purchase agreement was signed guaranteeing the sale of 21 MW of electricity to the national grid). Santa Cruz Power Corporation Usinas Hidroelétricas S.A. committed to invest US$ 67.5 million (BRL 135 million) in the facility. Construction works started in and were in advanced stages in early 2009, but the sponsor could not raise enough resources to finish the works until December 2009, when the company was granted a US$ 20.4 million (BRL 40.8 million) loan contract from BNDES, a state-owned development bank. This funding was directed to the construction of the substation and the transmission line to connect the power plant to the national grid. Commercial operations commeced in June 2013.