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    Petrobras calls off sale of thermal power plant

Summary

The 249-MW Canoas power plant, situated in Brazil's southernmost Rio Grande do Sul state, is capable of running on both natural gas and diesel oil.

by: NGW

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Petrobras calls off sale of thermal power plant

Brazil's state-owned oil company Petrobras has called off a tender to divest its Canoas thermal power plant, after failing to get an attractive enough offer, it said on November 30.

"Despite the efforts made in this process, it was not possible to obtain adequate commercial conditions for the transaction, thereby opting for its termination," the company said. "Petrobras will evaluate its next steps regarding the divestment of the asset."

The 249-MW Canoas power plant is situated in Brazil's southernmost Rio Grande do Sul state, and is capable of running on both natural gas and diesel oil. Petrobras is on a sweeping multi-year divestment programme, aimed at helping the company pay off its debts and invest more in core deepwater oil projects, as well as liberalising the Brazilian energy sector.