Roundup: Brazil hydro, Caribbean thermo, Costa Rica bill

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Wednesday, November 12, 2014

Energias do Brasil (EDP Brasil) announced completion of a deal to sell 50% of its 66.7% equity stake in Empresa de Energia São Manoel to CWEI, controlled by China Three Gorges Corporation.

Empresa de Energia São Manoel holds the concession to build and operate the 700MW São Manoel hydro on the Teles Pires river, on the Mato Grosso-Pará state border.

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"CWEI Brasil joins EDP Brasil and Companhia Furnas Centrais Elétricas S.A. ("Furnas") as shareholders of the Project, resulting in a final equity stake of 33.334% for EDP Brasil, 33.333% for Furnas and 33.333% for CWEI Brasil," EDP Brasil said in a statement.

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Cayman Islands power company Caribbean Utilities (CUC) reported it was moving forward to sign agreements with equipment provider MAN Diesel & Turbo and primary construction contractor BWSC for the recently awarded 39.7MW diesel power project.

CUC also said it continues to explore large-scale alternative energy options, and that one of the renewable energy providers it is in talks with applied for planning department permission to develop a 5MW solar plant. The project, if it goes ahead, would be ready in 2016.

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Costa Rica's legislative assembly reported that municipal power utilities Jasec and ESPH back an electricity contingency bill which the agricultural affairs committee is reviewing.

The companies, however, seek greater clarity, in particular rates, and called for more equal treatment of all stakeholders.

Jasec general manager Juan Antonio Solano Ramirez said state power company ICE and subsidiary CNFL receive preferential treatment during water rights award processes. ESPH representative Pablo Soto Ortega asked that the municipal companies be allowed to establish trusts or consortiums.

A plan to address power sector challenges is expected next year.