Leading Brazilian builders spurned the chance to construct the 11-gigawatt Belo Monte dam in the Xingu river amid complaints the rates offered by the government would not be sufficient for a decent rate of return (ROR).
Norte Energia, the winning consortium, is led by Companhia Hidro Elétrica do São Francisco (CHESF).
A ceiling price was set at R$83 ($47.88) per megawatt hour (MWh) and the winning rate was R$77.97
