BRASILIA (Reuters) – Paraguay’s President-elect Santiago Pena announced on Friday that talks between Paraguay and Brazil regarding the Itaipu hydroelectric dam will commence on Aug. 13. Pena disclosed this information after his meeting with Brazilian President Luiz Inacio Lula da Silva. This indicates that both countries are working towards reaching a financial agreement concerning the dam’s energy production.
Both Paraguay and Brazil aim to find common ground on the financial aspects of the energy tariff generated by the bi-national company. The current rules, which will expire this year and undergo review, entitle each country to 50% of Itaipu’s energy.
Pena expressed his desire to maintain the sale of energy from the hydroelectric plant to Brazil “at a cost price.” He also stated that he anticipates both countries will finalize an agreement by the end of this year.
(Reporting by Lisandra Paraguassu; Writing by Carolina Pulice; Editing by Valentine Hilaire and Alistair Bell)
Credit: The Star : News Feed
