SAO PAULO: Brazilian state energy firm Cia Energetica de Minas Gerais SA won the right to produce 431.5 megawatts of wind and solar energy at a government auction on Tuesday, it said in a statement.The contract gives Cemig, as the company is widely known, the right to produce energy starting in 2022 for a period of 20 years. The government auctioned off a total of 1,240 megawatts of contracts.
While the financial terms of the contracts were not immediately available, Cemig executives had previously told Reuters that this auction was an important re-contracting opportunity for the firm, controlled by the Brazilian state of Minas Gerais.
Some important Cemig energy contracts are set to expire soon after the government re-auctioned a series of energy blocks in 2017 that had been held by Cemig.