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Brazil Awards First Contracts Since 2011 for Coal and Gas Power

Brazil awarded its first contracts for coal and natural gas power plants in three years as the country seeks to replace capacity from hydroelectric facilities that have curtailed output amid the worst drought in eight decades.

Tractebel Energia SA, Centrais Eletricas Brasileiras SA, Bolognesi Participacoes SA and other developers of thermoelectric power plants won contracts to provide about 80 percent of the almost 4,980 megawatts of capacity sold in a Brazil energy auction today.