"Within the Interministerial Commission for the Recovery of Publicly Built Ventures, these concessions were rolled over, and the company Kanazuro Electric, S.A. was then asked to return them to the State," MINEA said in a statement.
The return was made on June 30th, 2020, by signing a delivery term in favour of the public electricity company, PRODEL.
The concession for these dams was granted through resolutions no. 108 and 109/09 of the Council of Ministers of 23 November 2009, which granted Kanazuro Electric the rights to rehabilitate, exploit and expand the two enterprises, for a period of 20 years.
With the delivery to the State, the concessions of the dams, as well as the respective contracts of purchase and sale of electric energy, signed between Kanazuro Electric and the National Transport Network Company, are extinguished.
