The contract guarantees 30 years of electricity supply worth €6 billion.

During energy auctions organized in Brazil on 29 June Tractebel sold 220 MW and 273 MW respectively of the output from its existing hydropower plants Itá and Cana Brava, at an average price of €46.67/MWh, higher than the average auction price.

Dirk Beeuwsaert, chief executive of SUEZ Energy International commented: “Through the different auctions the new Brazilian market model – introduced 3 years ago – has proven to bring predictability and gradually improved the attractiveness of the Brazilian power sector for Suez. The outcome of this auction resulted in contracts secured for 30 years and are essential for the optimization and risk management of Tractebel Energia’s client’s portfolio.

Another energy auction is scheduled for 5 September.