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Brazilian energy company MPX announces partnership with E.ON

01-12-2012 10:16 BJT

RIO DE JANEIRO, Jan. 11 (Xinhua) -- Brazilian energy company MPX announced Wednesday that it would team with German utility E.ON AG to invest in the Brazilian and Chilean energy markets.

The two companies will create a 50-50 joint venture, which "will be responsible for thermal and renewable energy projects in Brazil and Chile, as well as related supply and trading activities," MPX said.

MPX said the joint venture aims to have a total installed capacity of 20,000 megawatts in Brazil and Chile.

MPX said that it owns 11,000 megawatts in projects already licensed in Brazil and Chile, which will partially contribute to the joint venture.

The generation capacity planned represents around 20 percent of Brazil's current capacity.

MPX is controlled by Eike Batista, the richest man in Brazil.

"Together, we can create a business that is much more than a sum of its parts," said Batista, MPX's chairman of the Board.

Editor:Zhang Hao |Source: Xinhua

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