September 27, 2017 / 3:04 PM / in 21 days

Brazil's power auction met expectations, planning minister says

BRASILIA, Sept 27 (Reuters) - Brazil’s government is satisfied with Wednesday’s auction of operating licenses for four hydroelectric plants in Brazil, which ended in line with expectations, Planning Minister Dyogo Oliveira wrote on Twitter.

China’s State Power Investment Corp, France’s Engie SA and Italy’s Enel Spa agreed to pay a combined 12.12 billion reais ($3.8 billion) to operate the hydroelectric dams. The amount raised is 10.1 percent above the 11 billion reais minimum asking price the government had set for the auction. (Reporting by Silvio Cascione; Editing by Chizu Nomiyama)

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