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Eletrobras head expects over USD 257bn investments in Brazil power sector by 2030 - report

(SeeNews) - Oct 25, 2011 - Brazil's electricity sector eyes some BRL 450 billion (USD 257.055bn/EUR 184.34bn) investments in the next twenty years, according to Jose da Costa Carvalho Neto, president of federal power holding company Eletrobras (SAO:ELET6).

By 2020, the generation sector will receive BRL 190 billion investments, while transmission projects will face little more than BRL 40 billion, Neto said yesterday, according to a report of local news energy site Jornal Energia.

Eletrobras itself has earmarked BRL 13 billion for investments in 2012, the executive reiterated. Among the main goals will be to reduce the energy losses of the company's distribution subsidiaries. This indicator is at present 25%-30% within the Eletrobras group, while the average in the local sector is 17%, Neto added.

(BRL 1 = USD 0.571/EUR 0.41)

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