Brazil Narrows Budget Gap With $4.5 Billion Hydropower Auction

Updated on
  • China Three Gorges offers $632 million for biggest group
  • Companies bid for contracts to run 6 gigawatts of hydropower

Brazil raised 17 billion reais ($4.5 billion) from bidders including China Three Gorges Corp. in a government auction for more than 6 gigawatts of existing hydroelectric plants.

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