Tag Archives: hydroelectric power plant

Brazil

Broker XP is eyeing the creation of an electricity trading unit in Brazil this year | Instant News


SAO PAULO, March 24 (Reuters) – Brazilian financial services platform XP Inc will launch an electricity trading unit later this year, aiming to transform itself into a leading name in the domestic unregulated electricity market over the next few years, an executive told Reuters . Wednesday.

XP’s trading power will take advantage of the company’s broad portfolio of corporate clients while seeking to invest in technology as a way to have an edge over competitors, said unit head Cristian Nogueira.

The unregulated power market, which allows companies that consume electricity to negotiate contracts and prices with suppliers, has been booming in Brazil due to rising tariffs from power companies.

Banks such as BTG Pactual, Itaú Unibanco, Santander Brasil and Macquarie Australia have created electricity trading units in Latin America’s largest country. Energy companies, including the local branches of European utilities Enel, Engie, EDP and Iberdrola, are also on the market.

“XP is used to improve people’s lives by offering innovative products and education. With energy you can do the same. We will do it in the first place using our extensive customer network, ”said Nogueira.

“We usually offer our customers several hedging options: hedging for exchange rates, interest rates, inflation. Electricity will become another product. “

The executive said that XP could trade annual energy contracts for 3 billion reais ($ 530 million) in the next two or three years.

“We have goals, dreams that are big and ambitious. That in three years, anyone who thinks about the electricity trade in Brazil will have XP as a reference, “added Nogueira. ($ 1 = 5,6211 reais) (Reporting by Luciano Costa; Editing by Cynthia Osterman)

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Italy

Film ERG Italy turns to hydroelectric, gas plant sales: sources | Instant News


MILAN (Reuters) – Italian renewable energy company ERG has started a sale of more than 1 billion euros ($ 1.2 billion) worth of hydropower and gas-fired assets, attracting interest from funds and utilities, three sources told Reuters.

ERG wants to sell assets to reinvest its solar and wind businesses overseas, while maintaining credit stability, one source said, adding a decision has not yet been made whether to sell them separately or as a package.

The Italian company is more than 60% owned by the Italian Garrone-Mondini family and is one of Europe’s leading wind players with an installed capacity of nearly 2 gigawatts.

ERG also operates 527 megawatts of hydroelectric power in Italy which generates a core revenue of 87 million euros and has a gas-fired capacity (CCGT) of 480 MW.

Mediobanca and Rothschild are working on the sale and are starting to send out packages of information, said two sources.

“The non-binding offer is due at the end of April,” one added.

ERG, Mediobanca and Rothschild declined to comment.

Engie, Enel, A2A and Dolomiti Energie are among utilities interested while infrastructure funds such as Ardian can also look around, the first source said.

Hydro assets are attractive and could raise around a billion euros, one source said, although questions remain over the duration of concessions and the fact that factories are concentrated in central Italy.

The gas-fired power plant, located at a refinery in Sicily, could generate between 200 million euros and 300 million euros, the sources said.

($ 1 = 0.8405 euros)

Reporting by Stephen Jewkes; Edited by Alexander Smith

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Brazil

Brazil to cut its stake in Eletrobras to 45% from 61% in privatization – energy secretary | Instant News


SAO PAULO, February 24 (Reuters) – The Brazilian government will cut its stake in power company Centrais Eletricas Brasileiras SA, or Eletrobras, to 45% from the current 61% in the planned privatization process, a senior official at the Energy Ministry told Reuters. Wednesday.

The ministry’s Energy Secretary Rodrigo Limp said the government expects its stake in Eletrobras to double in value to 60 billion reais ($ 11 billion) with the increase in share price that privatization hopes will bring.

President Jair Bolsonaro presented a bill to Congress on Tuesday that would accelerate the divestment in Brazil’s biggest utility.

$ 1 = 5.4062 reais Reporting by Luciano Costa, Editing by Rosalba O’Brien

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Brazil

The Brazilian regulator will further analyze the outflow at the Belo Monte dam | Instant News


SAO PAULO, December 15 (Reuters) – Brazilian environmental regulator Ibama will carry out additional analysis of a study submitted by energy producer Norte Energia on the impact of the massive Belo Monte hydroelectric power plant, the agency said in a statement on Tuesday.

The statement comes after Reuters disclosed last week that shareholders in Norte Energia, including Eletrobras, Cemig and Neoenergia SA, are concerned about the limits that regulators are studying to demand higher water flow rates in dams, citing impacts on the environment and indigenous people. local. community.

Reporting by Luciano Costa; Written by Gram Slattery; Edited by Chris Reese

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Germany

Electricity prices in Southern Norway hit a 2-year high on new German cables | Instant News


OSLO, Dec 8 (Reuters) – Wholesale electricity prices for next-day delivery in southern Norway rose to an hourly high in nearly two years on Tuesday, supported by strong demand from Germany just as a new undersea interconnector between the two countries opened.

Prices for the offering zones around the Norwegian capital Oslo and central south coast Kristiansand are set at 99.92 euros per megawatt hour (MWh) for one hour from 1700 CET, data from the Nord Pool exchange show.

Prices in southern Norway have quadrupled since Monday, reaching their highest level since January 24 last year, outperforming gains seen in other electricity market regions.

The jump coincided with the start of commercial operations of the new 1,400 megawatt NordLink cable, and was exacerbated by a combination of low wind output, cold weather and high demand across Europe.

“NordLink has made a high contribution as there is 720 MW flowing from the NO2 (Kristiansand) area to Germany,” Refinitiv analyst Ole Tom Djupskaas said of the flow forecast for Wednesday’s peak load hours.

Tor Reier Lilleholt, head of analysis at Wattsight, said relatively small changes in demand could trigger large increases when capacity is limited.

“This is not something that will be sustained but I think it is a surprise to market participants that there is a strong relationship with the new cable,” said Lilleholt.

“So, it has a big impact on the market,” he said.

By comparison, German electricity prices have peaked at 114 euros per megawatt hour for one hour since 1700 CET.

Average prices for southern Norway are on historic lows this year due to wet weather in the hydropower-dependent region, but dry weather forecasts have raised electricity prices recently. (Reporting by Nora Buli, edited by Terje Solsvik)

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