June 15, 2018 / 11:00 PM / 4 months ago

China's State Power to bid for Brazil hydroelectric dam -sources

SAO PAULO, June 15 (Reuters) - China’s State Power Investment Corp is likely to deliver a bid for Brazil’s fourth-largest hydroelectric dam as soon as next month, two people with knowledge of the matter said on Friday.

The sources, who requested anonymity because they were not authorized to discuss the deal publicly, said that China’s State Power Investment Corp had been in talks with shareholders of the Santo Antonio plant last year, before breaking off negotiations to bid for another dam.

Cia Energética de Minas Gerais (Cemig) and Odebrecht SA, the owners of the 3.6-gigawatt Santo Antonio dam in the state of Rondonia, are selling assets to pay down debt.

Cemig, Odebrecht and SPIC did not immediately respond to requests for comment.

China’s State Power Investment Corp paid 7.2 billion reais ($1.9 billion) in a September auction for the license to operate the 1.7-gigawatt Sao Simao hydroelectric plant.

Reuters reported last month that the Chinese group was looking for new targets in Brazil. China’s State Power Investment Corp, which has 120 gigawatts of power generating capacity in 41 countries, aims to add 30 gigawatts worldwide through 2020.

$1 = 3.729 reais Reporting by Carolina Mandl and Tatiana Bautzer; Editing by Richard Chang

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