Brazilian power companies AES Eletropaulo and AES Tietê, controlled by US power company AES (NYSE: AES), aim to increase investments in 2008, Alexandre Inneco, CFO for both companies, told a webcast.
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AES Eletropaulo plans to invest 544mn reais (US$315.4mn) in 2008, up 26% from 434mn reais last year, Inneco said.
Most of the investments, to be funded with company cash, will go to upgrading power distribution systems.
Eletropaulo also plans to build the Tiradentes substation and upgrade two other substations.
"Investments in Tiradentes and these other two substations will reach 41mn reais," he said.
The company also plans to invest to reduce power losses this year from 11.2% to 10.9%.
AES TIETÊ
AES Tietê plans to invest 224mn reais in 2008, up from 51mn reais in 2007, said Inneco.
Most of the 2008 investments will go to build three small-scale hydro plants on Rio de Janeiro state's Piabanha river. The plants will have total capacity of 52MW.
Due to start operations in 2010, the plants will receive 141mn reais in investments this year and require 257mn reais overall, Inneco said.
AES Tietê also will invest 13mn reais and 11mn reais to build the São José and São Joaquim hydros in São Paulo state. The company plans to start operations at both plants in August 2009.
