State Power Investment Corp. (SPIC) of China has won the concession to operate the São Simão hydroelectric power station in Brazil, having bid 7.18 billion reais (US$2.25 billion) at the auction, Reuters reports.

The news agency says the bid was about 6.5 percent higher than the floor price set by the Brazilian government.

The report quotes SPIC as saying it will keep on looking for Brazilian assets to buy, preferably hydroelectric and wind farming assets.

The right to run the São Simão power station was one of four concessions to operate hydroelectric plants auctioned by the Brazilian government yesterday.

The government is pleased with the results of the sale, which raised 12.12 billion reais altogether, Reuters quotes Planning Minister Dyogo Oliveira as saying.