Belo Monte Hydro Project Consortium to Include 18 Partners

The consortium that will build and operate the 11,200-MW Belo Monte hydropower plant in Brazil’s Amazon will have a total of 18 partners, federal utility holding company Eletrobras reported.

The Belo Monte hydro plant will be built on the Xingu River, in the Amazonian state of Para. It will be the world’s third-largest hydropower plant. The hydro plant will be the second largest in Brazil, behind the 14-GW Itaipu Brazilian-Paraguayan plant.

Construction firm OAS and steelmaker Sinobras have joined the group that will build and operate the hydro project and will hold respective stakes of 2.51 percent and 1 percent, Business News Americas reported.

Of the partners, only Sinobras and Gaia Energia e Participacoes, of the Bertin Group, will be self producers. Gaia’s stake has been reduced to 9 percent from 10.02 percent, according to wire reports.

Brazilian pension fund Petros will have a 10 percent stake, while the Funcef pension fund will hold 2.5 percent. The Caixa Fi Cevics and Bolzano Participacoes investments funds will hold 5 percent and 10 percent, respectively.

Among the state-run companies, Eletrobras will hold a 15 percent stake, Chesf 15 percent and Eletronorte 19.98 percent.

Construction companies, which held a combined 40 percent in the Norte Energia consortium that won the Belo Monte auction, saw their stakes reduced.

Queiroz Galvao will have 2.51 percent, Galvao Engenharia 1.25 percent, Contern Construcoes 1.25 percent, J Malucelli 1 percent, J Malucelli Energia 0.25 percent, Cetenco Engenharia 1.25 percent, Mendes Junior 1.25 percent and Serveng 1.25 percent.

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