ICBC contributes $800 million to $1 billion syndicated bridge loan for 1710MW São Simão Hydropower Station Acquisition Project

📋 Staff Comments

1. This project is also known as the SPIC’s Bidding of 30-year Concession Right of Sao Simao HPP in Brazil. The Chinese project title is 圣西芒水电站 or 国家电力投资集团公司竞标巴西圣西芒水电站30年特许经营权项目. The Portuguese project title is Usina Hidrelétrica de São Simão or UHE São Simão.
2. The power plant is also called the São Simão Dam or São Simão Hydropower Station or São Simão HPP or HPP São Simão.
3. The Brazilian Central Bank records a $800 million loan between ICBC and UHE São Simão Energia S.A. in 2018 (Registration ID TA814332). This is assumed to be the same transaction.
4. This deal won the APAC CEO Award of JPMorgan in 2018.
5. GE Renewable Energy’s Hydro division signed a contract in March 2022 with SPIC Brasil to lead the modernization project of the 1,710 MW São Simão Hydroelectric Power Plant’s generating units and auxiliary services. Located in Minas Gerais and Goiás, between the municipalities of Santa Vitória and São Simão, the plant has six turbine-generator units. The dam is 3,500 meters long and has a maximum height of 127 meters. The project was inaugurated in 1978. The scope includes the supply of equipment for the turbines, generators and auxiliary systems, besides the engineering project and integration, assembly and commissioning of the six generating units. In addition, the project will be supported by Powerchina, which is part of the consortium led by GE to execute the project. Powerchina is responsible for the supply of electrical and mechanical balance of plant systems, the digital control system and hydromechanics. Execution of the project is expected to be completed in nine years. The stages of component acquisition and equipment manufacturing will take place at GE Renewable Energy’s unit in Taubaté, Sao Paulo, Brazil, and in partnership with other suppliers. The final phase of the project, which will be carried out by GE Renewable Energy, includes the assembly, installation and testing of the equipment.

📚 Sources & References

• M&A Loan for Acquisition of 30-year Franchise over Brazil Hydropower Station
• Brazil Hydropower Project
• SPIC sets up debt deal in Brazil
• Achievement Awards 2018: House Awards
• Sao Simao Hydropower Plant
• BRIEF INTRODUCTION TO Brazil Hydropower Station PROJECT
• Cutting the Distance: Benefits and Tensions from the Recent Active Engagement of China
• Japan, and Korea in Latin America
• Hydropower plants: Brazil
• BrazilCentralBank_September102018
• A Growth Platform for Renewables in Brazil
• Chineses levam usina de São Simão por R$ 7,18 bilhões
• São Simão HPP
• 南美洲与北美洲
• 国家电投圆满完成巴西圣西芒水电站运维交接
• 巴西圣西芒水电站特许经营权完成交割
• 国家电投签署巴西圣西芒水电站30年期特许经营权协议
• 国家电投：圣西芒收购协奏曲
• M&A Loan for Acquisition of 30-year Franchise over Brazil Hydropower Station
• SPIC Brasil awards contract to GE unit for hydroelectric plant modernization
• ALB CHINA LAW AWARDS 2019, 20亿参股巴西水电站 浙能集团参与“一带一路”建设
• 首次公开发行股票招股意向书摘要
• The Representative Office in Brazil attended and delivered a speech at the launch of the new book 'The Current Situation and Future Prospects of Investment in the Brazilian Power Market' by Zhejiang Energy Group
• 中葡合作发展基金 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.