Norte Energia S.A. is responsible for the construction and operation of the largest plant 100% Brazilian: the Belo Monte Hydroelectric Plant.
Established as a Special Purpose Entity (SPE), the Company won the concession public auction on April 20, 2010. The management term of the plant by Norte Energia, established in the concession agreement, is 35 years.
Norte Energia accepted the challenge of building and operating the Belo Monte Hydroelectric Plant, and is committed to contributing to the economic and social development of the country through the provision of clean, renewable, reliable and fairly priced electricity, using the hydroelectric potential of the Xingu River.
The Company has a management model based on transparency and the sustainability of its business and, as a result, constantly seeks to improve its corporate governance practices. It also has adopted several initiatives that ensure the ethical conduct of the business, as well as the division of decision-making.
Norte Energia periodically reports on its activities and performance, submitting data reviewed by independent external auditors. Therefore, the disclosure of the Company’s results follows the international accounting standards defined by the International Financial Reporting Standards (IFRS).