OREANDA-NEWS. September 09, 2011. MPX,  entrepreneur Eike Batista EBX Group energy company, makes known to the  market that the acquisition of the energy trading contracts pertaining to the UTE MC2 Joao Neiva S.A. and  UTE MC2 Joinville S.A. ventures, owned by  Bertin Energia e Participacoes S.A.,  is now completed, reported the press-centre of MPX.   

Taking into account the acquisition of the Bertin contracts and the capacity contracted in the A-3 power auction, the MPX Paranaiba complex already has 1,175 MW effectively contracted, and has been granted an environmental license to develop another 2,547 MW. All this results in a significant growth potential in the near future.
 
The acquisition of the Bertin contracts amounted to BRL 183,448,347.50. A 70% share of this total was paid by MPX, and the remaining 30% by Petra Energia S.A.  MPX funded approximately 80% of its share of the total amount paid through a BRL 100 million working capital credit line. The venture finance structure will follow a Project Finance model and should include a long term financing line that will cover repayment of this working capital credit line.
 
The transfer of the authorizations granted to the Bertin thermoelectric projects and the changes to the location and the technical characteristics of these projects that are needed to actually transfer the Bertin contracts to MPX Parnaiba, including changing total forecasted installed capacity to 676 MW, have been approved by the National Power Agency (ANEEL) on August 16, 2011. The acquired contracts have 15-year terms, will be effective as of January, 2013 and were ensured at the A-4 energy power auction held on September 30, 2008. Total contracted energy totals 450 average MW, and guarantee an annual fixed income of BRL 392.9 million (based date May 2011).

MPX has signed EPC (Engineering, Procurement and Construction) contracts with the Spanish companies Duro Felguera, targeting the implementation of the ventures related to the Bertin Contracts and Initec Energia S.A. for the construction of the UTE Maranhao III. The partnership executed with GE, one o the leading global manufacturers of gas power generation turbines, will assure the supply of the equipment needed for MPX Parnaiba. The turbines are now being manufactured. The delivery of the first two units is scheduled for December, 2011 and the other units will arrive early in 2012. Plant coverage suppression has already been started and earth leveling works are planned for the current month.
 
Gas supply will be assured by OGX Maranhao, an MPX associate company, that in May 2011  submitted to the National Oil, Natural Gas and Biofuel Agency (ANP) the Development Plans designed for the two natural gas fields in the Paranaiba Basin.

As a result of these contracts, by 2014 MPX will have reached total 1.910 MW installed capacity, taking into account just MPX interest in the ventures and a minimum annual gross revenue of BRL 1.3 billion. As a result, MPX will firmly establish itself as one of the leading Brazilian power generation companies.