Brazil's Tractebel announces financing for new projects
Brazil's Tractebel Energia will raise 600mn reais (US$185mn) through a corporate bond issue as it seeks to finance new power generation projects.
The operation will be divided into two tranches, with each non-convertible bond holding a nominal value of 1,000 reais, Tractebel said in a filing. The tranches have maturity periods of seven and 10 years.
Tractebel, a subsidiary of French conglomerate Engie, said the funds would be used to bankroll its 340MW Pampa Sul thermoelectric project in Candiota, Rio Grande do Sul state. The coal-fired plant is due online in 2019 with forecast investment of US$590mn.
Meanwhile the company also approved a 353mn-real loan contract with national development bank BNDES to develop four wind farms, according to the filing.
The projects are Central Eólica Cacimbas, Central Eólica Ouro Verde SPE, Central Eólica Santa Mônica SPE and Central Eólica Estrela.
This month Engie said it was selling natural gas exploration blocks in Brazil's northeastern states of Bahia and Maranhão. The company said the move was part of a renewed focus on power generation, particularly from renewable sources.
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