Chinese state-owned hydropower developer China Three Gorges Corporation is now Brazil’s second-largest private power generating company.

The firm this week completed the $3.7bn acquisition of two Brazilian hydropower plants, the 34.4 GW Ilha Solteira and the 15.5 GW Jupia, raising its total installed capacity in the country to 6 GW.

China Three Gorges is now second only to Brazilian utility Tractebel Energia, which boasts an installed capacity of almost 7 GW, in terms of generation capacity in the country.

The company also announced this week that it has won a contract to develop a 1 GW hydropower project in Pakistan.

The Kohala project represents China Three Gorges’ largest investment in the Pakistani power market to date, and falls under the rubric of the China-Pakistan Economic Corridor.