Empresa de Energia São Manoel S.A. is a Brazilian privately held company, which holds a 30-year concession, ending in 2049, to build and operate the 700MW São Manoel hydropower plant on the Teles Pires River, in the Mato Grosso-Pará state border. Construction began in June 2014. The company -a consortium formed by Furnas Centrais Elétricas S.A. (Eletrobras Furnas), EDP Energias do Brasil S.A. and China Three Gorges Brasil Energias Ltda (each one with a 33.3%)– agreed to build the US$977mn-project in a period of 48 months. Its five generating units are expected to come gradually online, with construction finishing by September 2018. Power generated will be enough to supply a population of 2.5mn people. The concession specifies a price of US$26.04/MWh, adjusted annually by the consumer price index IPCA. Founded in 2013, Empresa de Energia São Manoel headquarters are in the city of Alta Floresta, Mato Grosso state.