Chesf to pump US$1bn into Brazil power projects

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Thursday, March 16, 2017

Brazilian state-run power company Chesf will invest 3.3bn reais (US$1.05bn) in generation and transmission projects over the next two years, the government said on Thursday.

The announcement guarantees the conclusion of projects in Brazil's northeast that have been frozen by a lack of working capital, according to a mining and energy ministry statement.

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Some 2.2bn reais will be allocated to projects this year, leading to the creation of 20,000 jobs, the ministry said.

The works include transmission lines, power plants, substations and wind farms.

A subsidiary of government-owned group Eletrobras, Chesf operates 14 hydropower plants and a thermal plant with total installed generation capacity of 10.6GW. It also controls a 19,700km transmission network with 116 substations and 755 transformers.

SEE CHESF'S TOP PROJECTS HERE