Quoting Marcio Zimmermann, the energy secretary, BNamericas reports that hydropower contracts due to be signed next year will cut Brazil’s power generation costs by up to $2.3.bn.

Existing plants earmarked for auction include the 807.5 MW Tres Irmaos facility, which is seen as an important project and is due to come on-line next year.

It was handed-back by Cesp, a Sao Paulo-based utility, last year.

An auction for the hydroelectric facility is due to held at the end of this month, with generators able to bid for a 30-year operating concession.

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