Additional BNDES financing confirmed for Jirau hydro project, Brazil
GDF SUEZ is pleased to announce that BNDES (the Brazilian Development Bank) has confirmed an additional loan of up to BRL 2.3 billion (€0.9 billion) to the Jirau project in Brazil, potentially increasing the total project debt available to BRL 9.5 billion (€3.6 billion).
GDF SUEZ also announces the acquisition of an additional 9.9% equity holding from Camargo Correa in the Jirau hydro power plant. The price is based on Camargo’s adjusted equity contributions in the project to date. This acquisition is subject to regulatory approval and is expected to be completed in Q4 2012.
Since the inception of the project, the shareholders had agreed that Camargo Correa would exit the Jirau HPP during the later stages of construction, once the principal construction risks had been addressed. Following the acquisition, GDF SUEZ will increase its stake in the Jirau project from 50.1% to 60%. Camargo Correa remains fully committed to the success of the project as the principal civil contractor.
Note to Editors
GDF SUEZ through the project company Energia Sustentavel do Brasil (ESBR) is building the 3,750MW (50 units of 75MW each) Jirau hydro project on the Madeira river in Brazil.
GDF SUEZ develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, combating climate change and optimizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,900 people worldwide and achieved revenues of €90.7 billion in 2011. The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.