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CDB pledges $800 million loan for 600 MW Pedras Altas Coal-Fired Power Plant Construction Project (Linked to Record ID#59266)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Ouro Negro Energia S.A. |
| Country | Brazil |
| Start Date | Jan 01, 2015 |
| End Date | Mar 02, 2032 |
| Duration | 6,270 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 64586 |
Grant Description
CDB pledges $800 million loan for 600 MW Pedras Altas Coal-Fired Power Plant Construction Project In 2015, China Development Bank agreed in principle to provide a $800 million loan for the 600 MW Pedras Altas Coal-Fired Power Plant Construction Project. The total estimated cost of the project is approximately $1 billion and CDB pledged to cover 80% of the cost.
The purpose of the project is to construct Units 1 and 2 (300MW each) of a coal-fired power plant, known locally as UTE Ouro Negro, in Pedras Altas, Rio Grande do Sul, Brazil.
It is envisaged that the project will be implemented by Ouro Negro Energia S.A. — a special purpose vehicle — in partnership with Sepco1 Construções do Brasil and its subcontractor (Northwest Electric Power Design Institute). Ouro Negro S.A and Sepco1 Construções do Brasil signed a $970 million commercial contract signed in September 2019.
Sources & References
- Chinese state owned enterprises want to build power plant
- Brazil adds new coal-fired power
- Chinese state-owned enterprises want to build power plant in Brazil
- High Stones Thermal will be theme of hearings
- BANCO DE DESARROLLO DE CHINA: Financiamiento, gobernanza y desafíos socio-ambientales para América Latina y el Caribe
- UTE Ouro Negro assina contrato bilionário com a chinesa Sepco1 e se prepara para vender energia no mercado livre
- Pedras Altas power station 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.
All Grantees
Ouro Negro Energia S.A.
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