Brazilian power company Cemig(NYSE: CIG) will not follow France's Suez and its partners' strategy to sell in advance power to free market clients from the 3.3GW Jirau hydro project, Cemig CFO Luiz Fernando Rolla told a webcast.
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"Each competing group has its strategy and Suez's strategy is probably to sell a stake of Jirau's installed capacity beforehand. However, our strategy is a little different," Rolla said.
Power regulator Aneel will hold the auction on May 19 to build and operate Jirau, on the Madeira river in Rondônia state in the Amazon region.
Cemig and its partners in the Madeira Energia consortium last year won the right to build and operate the 3.15GW Santo Antônio hydro plant, also on the Madeira river.
