Velcan Energy acquires right to build 16-mw Quebra Dedo
France-based developer Velcan Energy acquired rights to construct the 16-mw Quebra Dedo hydroelectric project on the Suaci Grande River in Brazil’s Minas Gerais State.
Velcan said construction could begin in the first quarter of 2009, depending on receipt of expected authorizations. The project would be completed in 2010-2011.
“In keeping with our development objectives of installing a capacity of 300 mw in Brazil fairly rapidly, we are very happy to have acquired one more investment opportunity in our portfolio of projects in Brazil, now totaling 91 mw,” Velcan Group Co-managing Director Jean Luc Rivoire said.
Velcan said its strategy is to develop hydro projects in stable emerging countries having a high undeveloped potential. It has two revenue sources, sales of power and carbon credits.
Sri Lanka’s Weli River obtains financing, risk coverage
Zurich Financial Service Group and the U.S. Overseas Private Investment Corp. (OPIC) is providing political risk insurance, financing, and reinsurance to the 5-mw Weli River project in south-central Sri Lanka.
Zurich, a global provider of political risk and trade credit insurance, said it is providing political risk coverage to the project sponsor, MaTH Hydro Power of the United States.
In addition, OPIC is providing a US$4.3 million loan for project construction and US$1.4 million in reinsurance for Zurich’s political risk coverage.
Zurich said the Weli River project fits with its initiative to provide solutions to risks associated with climate change.
Brazil firm plans to bring 13 projects on line in 2008
Brazilian oil company Petrobras announced 13 small hydropower projects held by its distribution unit Petrobras Distribuidora are to be placed in service in 2008.
The projects, totaling 288 mw, are part of Brazil PCH, a company in which Petrobras Distribuidora holds a 49 percent share. Its partners in the projects are Eletroriver S/A, Araguaia Centrais Eletricas S/A, and BSB Energetica S/A.
Total investment in the 13 hydro plants is to be 1.2 billion reais (US$670 million).
Czech firm equips Turkey’s 6-mw Kayalik project
Czech equipment manufacturer Mavel a.s. announced it is supplying turbines and related technology to the 6-mw Kayalik project being built in Turkey’s Erzurum Region.
Mavel said it is supplying two 3-mw horizontal Francis turbines of 800 millimeters in diameter, plus generators, control system, and lubricating, cooling, and hydraulic units. It said it signed the contract with project owner Akua Enerji Uretim A.S. in June 2007.
Commissioning is planned for November 2008.
Romania sells 16 hydros in privatization auction
Government utility Hidroelectrica S.A. in Romania sold 16 small hydropower projects totaling 5.8 mw to three purchasers in a privatization auction.
Hidroelectrica said it received bids totaling 11 million euros (US$16.9 million) for the five groups of small hydro projects.
Winning bidders and their acquisitions include:
- Wienstrom GmbH of Austria: Ilfov River Basin group in Dambovita County, consisting of 220-kw Adunati, 140-kw Bratesti, 196-kw Bunget 1, 220-kw Bunget 2, and 182-kw Ilfoveni;
- Romenergo of Romania: Suha Mare River Basin group, consisting of 108-kw Gainesti, 241-kw Malini, 548-kw Poiana Marului, 273-kw Suha Mare, and 448-kw Valeni; and Suha Mica River Basin group, 713-kw Slatina and 54-kw Suvarita, all in Suceava County;
- Consortium of SC H&M Co., SRL Negresti Oas, and SC Lescaci COM of Romania: Fenes River Basin group in Alba County, consisting of 1-mw Fenes 1 and 1-mw Fenes 2, and Sovata River Basin group in Mures County, 160-kw Sacadat 1 and 330-kw Sacadat 2.
Hidroelectrica said it planned to speed up the privatization process for 86 other small hydros to be sold by the end of 2008.
– For information, contact S.C. Hidroelectrica S.A., Str. Constantin Nacu, Nr. 3, Sector 2, Ro-020995 Bucharest J40/7426/2000 Romania CUI RO 13267213; (40) 21-3032500; E-mail: [email protected] hidroelectrica.ro.