Operators Energias do Brasil, a subsidiary of Portugal’s Electricidade de Portugal (EdP), resumed construction in late 2003 after financing problems saw the project development suspended for a year. Originally, EdP and Grupo Rede held 95% and 5% respectively but following negotiations with Eletrobrás its subsidiary Furnas now holds a 40% stake, EdP 59% and Grupo Rede 1%. Banco Nacional de Desenvolvimento Económico e Social (BNDES) also financed around Rl700 million (€205 million) of the €592 million project located in Tocantins state in northern Brazil.
The first two turbines began operations in the summer.
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