Brazil's national oil and gas giant Petrobras announced on Friday that it had signed a contract to lease
Brazil's national oil and gas giant Petrobras announced on Friday that it had signed a contract to lease a thermoelectric power plant in Sao Paulo state for 17 years.
The company will pay 45 million reals (22.2 million U.S. dollars) a year to run the so-called Piratininga plant, which belongs to Sao Paulo's state government, according to a Petrobras statement.
Another reason was the need to increase Petrobras' energy supplies in Brazil, the statement said.
The plant, which is located in the city of Sao Paulo, relies on a base production capacity of 540 megawatts, and on two extra steam-empowered engines that are capable of producing 200 megawatts.