Brazilian miner and iron ore producer Vale said this week it is interested in joining an auction to acquire four hydropower plants owned by power utility Cemig.
Despite confirming its interest in a government auction scheduled for September 27, which will offer four expired hydropower plant concessions, Vale said it has not made a final decision, adding that it wants to become self-sufficient in energy as a way to reduce costs.
Vale is a shareholder along with Cemig in Aliança Geração de Energia SA. Vale’s proposed offer for the auction would be made through Aliança, Vale said.
Cemig’s hydropower plants Miranda, São Simão, Jaguara and Volta Grande have a combined annual generation capacity of 2.9 gigawatts.