By Leticia Fucuchima
Brazil secured 19 gigawatts of thermal and hydro power plants at a capacity auction on Wednesday, representing the highest ever electrical power contracting in the South American nation, the deal's results showed.
The government held the auction to secure back-up power capacity for periods of high demand or scarce supply.
Winning projects, which include companies such as Petrobras BMFBOVESPA:PETR3, Eneva BMFBOVESPA:ENEV3, Axia Energia BMFBOVESPA:AXIA3, and Copel (CPLE3.SA), are expected to require 64.5 billion reais ($12.35 billion) in investments, according to the results.
($1 = 5.2211 reais)