China Three Gorges Group prepares proposal for construction of dam in Brazil

17 March 2016

A consortium led by the China Three Gorges Group (CTG) is preparing a proposal to be presented when the construction project of an 8,000-megawatt hydroelectric plant in Brazil is taken to auction, English language newspaper China Daily reported.

Wang Shaofeng, executive vice president of China Three Gorges International Corp., a subsidiary of the CTG group, told the newspaper that when the auction for construction of the hydroelectric power station on the Tapajós River is launched, “the consortium set up by the group will be a strong competitor.”

Wang also said that dam on the Tapajos river, which is 850 kilometres long and located in the Amazon basin, will join the list of top ten hydroelectric power plants globally.

The China Three Gorges International Corp. executive vice president noted the group plans to use Brazil as a springboard to other markets in Latin America, such as Chile, Peru and Colombia, all with extensive river systems and dam building experience .

Wang Shaofeng also recalled that the group set up Hydro Global Investment Ltd, in Hong Kong in partnership with EDP – Energias de Portugal, of which it is the main shareholder, to explore medium-sized business opportunities also for hydroelectric power plants .

Last January, the Chinese group signed with the Brazilian Ministry of Mines and Energy contracts relating to concession on two hydroelectric plants in the country. The move brought an end to an auction in which CTG paid 13.8 billion reais (US$3.66 billion) to be awarded the concession on two major hydroelectric plants in Brazil.

The two hydroelectric plants – Jupiá and Solteira – belonged to Companhia Energética de São Paulo (CESP) and were taken to auction by the federal government after the previous concession contract ended.

The two dams were the largest of a group of 29 taken to auction, and the Brazilian agency added that the Chinese group will be the first foreign company to take on the management of a hydroelectric production unit in Brazil on its own. (macauhub/BR/CN/PT)