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Shell, Mitsubishi and Brazil's Pátria in $700 million power JV in Rio

Reuters  |  SAO PAULO 

(Reuters) - Royal Dutch Shell Plc, Brazil's group Pátria Investimentos and Mitsubishi Power Systems, on Monday said they would invest $700 million to build and operate a in the state of de Janeiro.

The joint venture will build the Marlim Azul thermal power plant with capacity of 565 megawatts (MW) in Macae, along Rio's coast, and will use supplied by Shell Brasil Petróleo Ltda. Pátria will have 50.1 percent of the venture, with 29.9 percent held by Shell and 20 percent by Mitsubishi.

(Reporting by and Marcelo Teixeira)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 02:26 IST