CDB pledges $800 million loan for to 600 MW Pedras Altas Coal-Fired Power Plant Construction Project (Linked to Project ID#59266)
Pledged amount
$ 897820455.6631619
Adjusted pledged amount
$ 897820455.6631619
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Brazil
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Description
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.
Number of official sources
4
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Ouro Negro Energia S.A. [Joint Venture/Special Purpose Vehicle]
Implementing agencies [Type]
SEPCO Electric Power Construction Corporation No. 2 (SEPCO2) [State-owned Company]