Petrobras (PBR)

20.8. Leasing of the Piratininga Thermoelectric Power Station

On April 27, 2007 Petrobras executed with Empresa Metropolitana de Águas e Energia S.A (EMAE), which is owned by the São Paulo state government, the contract to lease the assets of the Usina Termelétrica Piratininga located in the city of São Paulo. The document stipulates that the power station will be leased for 17 years for a rent of R$ 45 million/year.

Petrobras was already partially operating the power station by way of a consortium put together in 2001. The consortium was closed in 2006 when the companies resumed the negotiations. The contract also foresees a purchase option on the power station’s assets. On this occasion a five-year Operating and Maintenance contract for the power station was also executed with an annual value of R$ 15 million.

b) Leasing of the Piratininga Thermoelectric Power Station

On April 27, 2007 Petrobras executed with Empresa Metropolitana de Águas e Energia S.A (EMAE), which is owned by the São Paulo state government, the contract to lease the assets of the Piratininga thermoelectric power station localized in the city of São Paulo. The contract stipulates the power station shall be rented for 17 years for the cost of R$ 45 million/year.

Petrobras was already partially operating the power station by way of a consortium put together in 2001. The consortium was closed in 2006 when the companies resumed the negotiations. The contract executed also provides a purchase option on the power station’s assets. On this occasion a five-year Operating and Maintenance contract for the power station was also executed worth an annual R$ 15 million.