Power company invests in North East Brazil
Date added: 14th May, 2010 at 14:43
(view all articles from May, 2010)
Categories: Economy
Energy company Energética Suape II SA has made an investment in Brazil worth €200 million (£171.92 million), commissioning the construction of a new power plant in the town of Cabo in the North East of the country.
Wartsila, a Finnish engineering firm, has been awarded the contract and will start work in quarter two of this year.
The plant will be ready to operate commercially in January 2012 and will produce 380 MW of electricity.
Hoping to secure an additional deal providing services to the site, the company said: "This project represents the largest power plant ever built by Wartsila anywhere in the world."
At 08:05 GMT, shares in the firm were up 1.1 per cent to €38.21, according to Reuters, having previously risen to a year-high of 39.91 - a 5.7 per cent jump.
A total of 22 power plants have been constructed or are currently being built in Brazil by Wartsila which, added to this most recent project, will produce a combined output of 2,000 MW of electricity. 
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