Engevix Negotiates Million-Dollar Investment to Complete São Roque Power Plant Construction in Santa Catarina

Engevix Will Also Rely on Credit Provided by Turbine and Generator Manufacturers, Own Resources, and Advance Revenue from Already Commercialized Energy

New Engevix, active in the Energy, Infrastructure, and Industry sectors, is currently negotiating financing of approximately R$ 150 million with a national bank and an investment fund, out of a total of R$ 383 million to complete the works of the São Roque hydroelectric plant in Santa Catarina. Additionally, the remaining resources will come from credit provided by turbine and generator manufacturers, own resources, and advance revenue from already commercialized energy.

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Works at the São Roque Plant Are 80% Completed by Engevix

The infrastructure work of the São Roque plant in Santa Catarina is 80% completed. With an installed capacity of 141.9 megawatts (MW), it can generate energy equivalent to the residential consumption of the four largest cities in the state: Florianópolis, Joinville, Chapecó, and Blumenau.

According to Ênio Schneider, project coordinator for the plant, the project is committed to delivering 60 average MW of energy to the distributors starting in 2025. The energy block, which corresponds to 75% of the marketable energy, will have a cash flow capable of supporting the financial equation of the project.

He stated that there are still 20 average MW to sell until the end of the concession, in addition to all the anticipated energy, meaning that the plant will generate energy during the period prior to the commitment of delivering the contracted energy.

In June of next year, Engevix will also have more than two years to sell its production freely in the market. Contracts for advance sales have already been signed for delivery in 2022 and 2023, and New Engevix is evaluating the best time to hold a new auction for the remaining sale.

This report was based on the Broadcast Estadão.