Rio de Janeiro, Brazil, 27 Sept – Brazilian company Furnas, of the Eletrobras group, has signed a cooperation agreement with Chinese counterpart China Three Gorges Project Corporation (CTGPC) to seek out business opportunities in the renewable energy business, the company said in a statement issued Monday.
The agreement was signed during a trip to China led by the chairman of Furnas, Flavio Decat, and the two companies plan to work together not only in Brazil and China but also in the rest of the world.
“The intention is to make Furnas the main agent in Eletrobras’ internationalisation process as the company has vast knowledge of electricity and is one of the most important players in renewable energy production in Brazil,” Decat said.
The chairman of Furnas also said that the agreement would lead to a promising partnership, as CTGPC is focused on the development and operation of hydroelectric projects on a large scale, as well as on wind and solar power.
Under the terms of the agreement, prospecting for new opportunities in Brazil will be coordinated by Furnas and CTGPC will be a minority shareholder in the new company. If a deal is made in China, the Chinese state company will coordinate the process, whilst Furnas will act as a minority shareholder.
A working team will be set up in each country to discuss details of the two-way cooperation and draw up plans of action to select joint investment, technology and staff exchange projects, as well as training programmes.
The China Three Gorges Project Corporation built one of the largest hydroelectric facilities in the world; the Three Gorges on the Yellow River (China) and in the next two years expects to set up hydroelectric projects with a total capacity of 20,000 megawatts, as well as wind and solar power projects. (macauhub)
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