Jirau Hydro Bidding Postponed

Brazilian electricity regulator Aneel has postponed an auction for the rights to build the Jirau hydroelectric project until May 19, it said. The bidding for the 3.3GW hydroelectric dam on the Rio Madeira had been scheduled for May 12, but Aneel wanted to give bidders more time to prepare. The government has estimated construction costs for Jirau to be BRL8.7bn, and development bank BNDES has said it could contribute up to 75% of the financing.