Cemig GT and CPFL Geracao, two Brazilian energy generators, may jointly bid for the 700 MW Sao Manoel hydroelectric plant at the government auction taking place late October, one of the firms confirmed.
This government auction is seeking to meet distributors' demand for power as of 2017.
Cemig GT, the subsidiary of state power firm Companhia Energetica de Minas Gerais, would hold a 49 per cent stake in the consortium. In turn, CPFL Geracao, which is part of energy holding company CPFL Energia, would retain the remaining shares.
The Sao Manoel hydro plant is expected to be built on the Teles Pires river, located near the border of central western Mato Grosso and the northern state of Para.
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