RIO DE JANEIRO, BRAZIL--(Marketwire - December 9, 2009) - MPX Energia S.A. (BOVESPA: MPXE3)
(GDR I: MPXEY) ("MPX"), informs that BNDES (Banco Nacional de
Desenvolvimento Econômico e Social) approved a long term financing package
for the Porto do Itaqui TPP, ("Itaqui" or "project"), a project fully owned
by MPX.
The final approval of the financing package not only reinforces the
feasibility and importance of this enterprise, but also shows that the
Company is able to design robust and assertive strategies for technical,
environmental and financial risk mitigation.
BNDES' loan, amounting to R$ 1.038 billion (in nominal R$, including
interest during construction), will have a 17-year tenure, with a 14-year
amortization period, and a grace period for interest and principal until
July 2012. The financing package comprises of a direct loan of R$ 797
million, at an annual cost of TJLP + 2.78%, and indirect loans totaling R$
241 million, of which R$ 100 million at an annual cost of IPCA + 12.1-12.6%
and R$ 141 million at TJLP + 4.5-5.0%. During construction, interest will
be capitalized.
In addition to BNDES' financing package, Itaqui should also receive R$ 203
million in long term financing from the Banco do Nordeste do Brasil
("BNB"). Such credit line is in final stage for approval. Considering the
total required capex and financing packages from BNB and BNDES, the project
will have a capital structure of approximately 75% debt/25% equity.
Itaqui is part of the Brazilian Government's Growth Acceleration Program
("PAC") and represents an important step towards the diversification of the
country's energy matrix, increasing the reliability of electricity supply.
The plant will use clean-coal technology, complying with the most rigorous
legal requirements of the Brazilian law as well as international agencies.
So as to foster Brazil's sustainable development, MPX will go beyond legal
requirements and will implement a vast plan for greenhouse gas reduction.
Moreover, MPX intends to allocate a significant part of its R&D budget to
the development of carbon sequestration technologies.
Porto do Itaqui TPP
Porto do Itaqui TPP project consists in a 360 MW coal-fired thermal plant,
in the State of Maranhão. Itaqui has already contracted 315 average MW in
the regulated market, securing annual fixed revenues of R$ 252.0 million
(as of Sep 09). According to the implementation schedule, commercial
operation should start before January 2012, when the commitment to deliver
energy to the regulated market begins.
Rio de Janeiro, December 9, 2009.
Eduardo Karrer
CEO and IR Officer
Contact Information: Investor Relations:
Flavia Heller
+55 21 2555-4244
Daniel Haddad
+55 21 2555-4015
ri.mpx@mpx.com.br
www.mpx.com.br/ri
Press Relations:
Roberto Gonzales
+55 21 2555-4695
+55 21 8011-0101