The portfolio comprises 11 hydroelectric stations operating at a combined generating capacity of 45MW, which is being sold under long-term power purchase agreements by Energisa S.A, as well as a 188MW pipeline of greenfield hydro projects. This increases BESA’s installed capacity of renewable hydro power in Brazil to 293MW while its pipeline developments will increase to almost 700MW.
‘These high-quality generating facilities represent an excellent opportunity to enhance our position as a leading hydroelectric power producer in Brazil,’ commented Richard Legault, Managing Partner of Brookfield Asset Management and Chief Operating Officer of Brookfield Power. ‘These assets complement our existing portfolio of operating assets and provide a valuable pipeline of greenfield hydroelectric projects that will enable us to expand our geographic footprint in the growing Brazil market.’
Brookfield, which has over US$70B of assets under management, has been actively developing hydroelectric facilities in Brazil and in the last five years has commissioned and constructed six facilities with a generating capacity of 119MW. A further five hydroelectric plants with a combined output of 106MW are currently under construction.
The deal, which is expected to close by the end of October 2007, is conditional on approval of regulatory agencies and other customary closing conditions.
