Spanish electric utility Iberdrola commissioned a hydroelectric power plant in the middle of the Amazonian Forest with €1.1 billion investment, the company said Monday.
The Teles Pires hydroelectric power plant has an installed capacity of over 1,800 megawatts, is fully operational and is able to meet the needs of five million Brazilians.
In a bid to be environmentally and socially-conscious, the company provided jobs for local people and developed over 40 social and environmental initiatives to benefit the indigenous communities in the area.
The design of the plant allows it to harmoniously blend with the Amazonian jungle. Additionally, the commissioning of the plant required the construction of a water-processing plant, sanitation facilities and areas for public use, the company added.
The hydroelectric plant was developed by a consortium formed from Iberdrola’s Neoenergia holding with 50.1 percent share, Furna with 24.5 percent, Eletrosul with 24.5 percent and Odebrecht with a 0.9 percent share interest.
Iberdrola completed the project within 40 months and employed around 6,500 employees.
By Zeynep Beyza Kilic