Rio de Janeiro – The Brazilian Ministry of Mines and Energy is planning on auctioning the Miranda, São Simão, Jaguará and Volta Grande hydroelectric power plants formerly under concession which have been returned to federal government control. The plan was made public this Wednesday (17) by minister Fernando Coelho Filho following an address at the opening of the National Meeting of Electric Industry Agents (Enase).
The Ministry intends to hold the auction in September, and it is expected to bring from BRL 10 billion to BRL 11 billion (USD 3.2 billion 3.5 billion) to government coffers. The plants of Jaguará, Miranda and São Simão were under concession to Cemig, which retained control following contract expiry via a court order. The order was later revoked by the Superior Court of Justice (STJ).
*Translated by Gabriel Pomerancblum
