Frontrunners Swiftly Bag Hydro Concession

Frontrunners Swiftly Bag Hydro Concession

The MESA consortium, composed of Odebrecht (17.6%), Furnas (39%), CNO (1%), Andrade Gutierrez (12.4%), Cemig (10%) and a fund run by Portuguese bank Banif, won the Madeira concession in a Monday auction that lasted no more than seven minutes. The bid, based on an offer to provide electric power at BRL78.90 per MWh, beat out two others by more than 5%, which gave the lowest bidder an immediate win. The bid came at a 35% discount to the maximum level established by the country's power regulator of

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