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GDF Suez Agrees Finance Deal For Brazilian Hydro Power Plant

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French utility GDF Suez SA (GSZ.FR) said Monday that it has agreed a EUR2.44 billion finance contract for the 3,300 MW Jirau hydropower plant

PARIS (Dow Jones)–French utility GDF Suez SA (GSZ.FR) said Monday that it has agreed a EUR2.44 billion finance contract for the 3,300 MW Jirau hydropower plant through its special purpose company Energia Sustentavel do Brasil

MAIN FACTS:

– The 25 year, BRL7.2 billion (approximately EUR2.44 billion) loan was agreed with the Brazilian development bank BNDES (Banco Nacional de Desenvolvimento Economico e Social) and a pool of banks formed by Banco do Brasil, Caixa Economica Federal, Banco do Nordeste do Brasil, Itau-Unibanco and Bradesco.

– It will finance 68.5% of the total EUR3.3 billion investment in the Jirau plant.

– The project is under construction in the North of Brazil.

Company Web site: www.gdfsuez.com

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