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Brazilian Company Eletrobras to Construct Hydro Energy Facility in Nicaragua

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Aug 27 2010

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Eletrobras, a Brazilian firm, is all set to construct a hydro energy facility with 250 MW capacity in Nicaragua. Plans are on to start work this November on this plant in the location of southern Nicaragua. In terms of Eletrobras’ foreign expansion, this would become the first project.

The bid for the operation and construction of this Tumarin hydroelectric facility was won by a consortium headed by Eletrobras along with a private Brazilian company Queiroz Galvao. The consortium is currently negotiating the land purchase for this project.

The hydroelectric plant is anticipated to cost $700 million and the financing will be done by the contractors, BNDES (Brazil’s National Economic and Social Development Bank) along with the Central American Bank for Integration.

Source:

http://www.eletrobras.com/

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