GDF SUEZ Energy International, via its subsidiary Tractebel Energia SA and as part of a consortium, has completed $597m of financing for the Estreito hydroelectric facility, which was recently inaugurated.

Banco Nacional de Desenvolvimento Economico e Social (BNDES) provided $298.23m, with the remaining $298.23m provided by Unibanco Union of Brazilian Banks SA, Banco Votorantim SA, Banco Bradesco SA and Banco ItauBBA SA. The loan has a maturity a period of 24 years.

The companies in the consortium are Vale SA, a metal and mining company, Alcoa Incorporated, an aluminum manufacturer, and InterCement Brasil SA, a cement firm.

The total cost of the project is estimated to be in the region of $3.3bn.

The total installed capacity of the hydropower plant, which is located in Estreito in the north of Brazil, is 1087 MW.

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