Enel, through its subsidiary Enel Brasil, has won a 30-year concession for the 380MW Volta Grande hydropower station in Brazil in an auction organised by the Brazilian Electricity Regulatory Agency (ANEEL).

Enel will invest a total of around 1.4 billion Brazilian reais (US$445 million) for the hydro concession, in line with the Group’s current strategic plan. The hydropower plant is supported by the 30-year concession awarded with a guaranteed annual generation revenue.

After the signing of the concession, expected this November, Enel’s hydro capacity in the country will increase to 1270MW from the current 890MW. According to tender rules, Enel is expected to take over the facility in January 2018, after which point it will be operated by Enel’s renewable subsidiary Enel Green Power Brasil Participações Ltda.

The 380 MW Volta Grande hydro plant is located on the Rio Grande river, in the states of Minas Gerais and São Paulo. The plant entered into operation in 1974 and has an annual energy production of 2.02 TWh.