The Brazilian power company said the total installed capacity would be 52MW to deliver an average of 28.97MW of assured energy. The plans are subject to the acquisition of a licence to construct the plants, the company added.
Meanwhile, its capital spend last year was R$46.5M and investment of R$75.5M is planned for 2007 - including R$22.4M to build three hydro plants in the interior of the state of Sao Paulo. Their total capacity is 8MW.
Details of the investment plans were released with the company's results for 2006, which saw a 16.8% jump to R$1.1bn in earnings before interest, taxes, depreciation and amortisation (EBITDA). Higher energy sales through a bilateral supply contract with Electropaulo was given as the prime reason for the marked improvement.
Going forward, AES Tiete wants to expand its asset base and is required to do so by 15%, to 400MW, under its concession contract from the privatisation of 1999. However, it said no other adequate hydro resources were available in its base state of Sao Paulo. While it looks elsewhere, such as the state of Rio de Janeiro, the company has requested a suspension of the scheduled obligation to expand.
