São Paulo, Brazil's state-run utility Cesp is the largest power generator in the state and the fourth largest in the country in terms of output. The company has five hydroelectric plants, comprising 52 generating units with a total installed capacity of 6,649MW and an average guaranteed power output of 3,698MW. CESP's hydroelectric plants are located in two basins, the Paraná river basin in the west of São Paulo state and the Paraíba do Sul river basin in the east. In 2012, the company decided not to renew the concessions for the 3.44GW Ilha Solteira and 1.55GW Jupiá plants, which expire in July 2015, because of regulatory changes that made them less profitable for generators. Its other concessions expire in May 2028 (Porto Primavera), March 2021 (Paraibuna), and May 2020 (Jaguari). Based in São Paulo, Cesp was created in 1966 by the São Paulo state government through the merger of 11 companies in the state.