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Interested firms have until August 15 to submit proposals for a joint venture, Furnas said in a statement.
The project forms part of an 11GW mega-dam complex earmarked for the Tapajós and Jamanxim rivers in Pará state.
It will comprise seven independent power plants and is expected to attract investment of US$9bn.
According to the federal government, a concession to build and operate São Luiz do Tapajós could auctioned later this year.
BNamericas will host its fourth LatAm Power Generation Summit in Santiago, Chile, on August 13-14. Click here to download the agenda.