Brazil’s ANEEL Auctions CEMIG Energy Plants for R$12.1 Billion

The money obtained from the auction of the four hydroelectric plants in Minas Gerais will help reduce huge federal deficit.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – After heated disputes between Brazil’s federal government and the government of the state of Minas Gerais, the National Electric Energy Agency (ANEEL) auctioned off on Wednesday four hydroelectric plants operated in the state, raising R$12.1 billion for federal coffers.

"We have definitely brought back the world's trust in Brazil. Auction of the CEMIG plants yielded R$12.13 billion, above the expectation of the market,” celebrated Brazil’s President, Michel Temer, on social media after the auction results.

The plants were sold to China’s Spic . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?