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Overview

CDB pledges $800 million loan for 600 MW Pedras Altas Coal-Fired Power Plant Construction Project (Linked to Record ID#59266)

Commitments (Constant USD, 2023)$836,958,705
Commitment Year•2015Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilSector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2015

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Ouro Negro Energia S.A.

Implementing agencies

State-owned companies

  • SEPCO Electric Power Construction Corporation No. 2 (SEPCO2)

Loan desecription

CDB pledges $800 million loan for 600 MW Pedras Altas Coal-Fired Power Plant Construction Project (Linked to Record ID#59266)

Interest type•Unknown

Narrative

Full Description

Project narrative

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.