Engie Wins Concession Contracts for Two Brazilian Power Plants

Engie SA (ENGI.FR) said Thursday it won concession contracts for two Brazilian hydropower plants for a total of around 950 million euros ($1.12 billion).

The French company said it won concession contracts from the Brazilian government for two plants located in Brazil. The concessions are valid for a 30-year period and will strengthen Engie's position as the largest private energy producer in Brazil, the company said.

"These contracts are a tremendous success that represent a great growth opportunity for Engie, in line with the group ambition to develop low carbon power production," said Mauricio Baehr, chief executive of Engie Brazil.

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

September 28, 2017 12:24 ET (16:24 GMT)