Grupo Neoenergia has 60% of the shares in the Corumbá III Project Consortium through the Specific Purpose Company Generation CIII. Companhia Energética de Brasília (CEB) and Companhia Energética de Goiás (CELG) also participate in the consortium through SPE Energética Corumbá III.
Corumbá III Project Consortium obtained its grant in 2001, with the signature of a contract with ANEEL. Although the project only gained strength after Neoenergia joined it, which enabled the beginning of the work. The construction work initiated in September 2006, after obtaining the Installation License in March of the same year.
The beginning of commercial operations is predicted for April 2009. Total investment will be R$ 360 million, of which approximately R$216 million are allocated by Grupo Neoenergia, which amount will be financed in a proportion of 70% from third party resources and 30% from own resources.
UHE Corumbá III, which is in an advanced construction phase on the Corumbá River, will have an installed capacity of 93.6 MW. Its ensured power will be traded through a contract singed with CEB. This power will supply 10% of the demand of Brasília, occupying a strategic role in the country: In case of problems or crisis in the power supply, UHE Corumbá III will be responsible for assuring the supply of the 3 federal powers in the Federal District.
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