August 21, 2017 / 12:46 PM / a year ago

SPIC delays purchase of Brazil dam on regulatory uncertainty -paper

SAO PAULO, Aug 21 (Reuters) - China’s SPIC Overseas is delaying plans to buy a 3,568-megawatt hydropower dam in Brazil because of uncertainty about how much electricity the project is allowed to sell, newspaper Valor Econômico reported on Monday.

Brazil’s Cemig and Odebrecht, which are among the controlling shareholders of Santo Antônio Energia SA, intended to sign a sales agreement by the end of the month so that the deal could close in October, Valor wrote without saying where it got the information.

SPIC suspended the purchase pending confirmation from the government and regulators about the amount of guaranteed electricity that the dam can sell, Valor said.

Media representatives for Santo Antônio, Odebrecht and Cemig did not immediately respond to requests for comment. (Reporting by Ana Mano; Editing by Lisa Von Ahn)

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