The 70 MW plant will be constructed in partnership with Dedini Açucar e Álcool, a local agro-industrial group, which will consume 47 MW of electricity and the steam produced by the plant.
Tractebel Energia, Suez Energy International’s Brazilian generation company, will have a 63% stake in the project, the remainder being held by Dedini Açucar e Álcool. The remaining 23 MW is to be sold to a pool of Brazilian distributors under a 15-year Power Purchase Agreement at a price of Rl 141.16/MWh (€55.3/MWh)
BNDES, the development bank of Brazil will finance up to 70% of the Rl 155 million R$ (€60 million EUR) total investment cost of the plant, through its special credit line for biomass projects.
Dirk Beeuwsaert, chief executive of Suez Energy International said the company would apply for carbon credits under the Clean Development Mechanism.
The project is due to begin operations in January 2010.
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