LA PAZ – Bolivia and Brazil are preparing to sign a memorandum of understanding covering the development of two hydroelectric power projects aimed at expanding electricity generation and exchanges, Bolivian Hydrocarbons and Energy Minister Luis Alberto Sanchez said.
The agreement is designed to spur viability, design and construction studies for the Rio Madera and Cachuela Esperanza hydroelectric projects, Sanchez said in statement.
The minister visited Brazil last week and met with his counterpart, Eduardo Braga, and executives from Eletrobras.
The Eletrobras executives plan to visit Bolivia in the next few days to wrap up the memorandum, Sanchez said.
Brazil expressed interest in finding “ways to promote exchanges of energy between the countries to increase the region’s energy security for the benefit of both nations,” the minister said.
The Rio Madera binational project could generate 3,000 MW, while the Cachuela Esperanza project is expected to generate 700 MW, Sanchez said, adding that Brazil’s electricity demand was growing by 3,000 MW annually.
The two hydroelectric power projects will help Bolivia go in “a new direction” that could help it “become a large-scale producer of electricity, and with an important market like the Brazilian one,” Sanchez said.