UK markets open in 7 hours 35 minutes

Brazil awards contracts for 2.98 gigawatts of new power projects

SAO PAULO, Oct 18 (Reuters) - The Brazilian government awarded on Friday contracts for companies to build new power generation installations with combined capacity of 2.98 gigawatts, that will require around 11.16 billion reais ($2.71 billion) to be built.

According to the power trading chamber CCEE, the new plants, which will need to be operational in six years, will sell energy for an average price of 176 reais per megawatt. France's Voltalia, Norway's Statkraft and Brazil's Eneva are among the winning bids.

($1 = 4.1182 reais) (Reporting by Luciano Costa, writing by Gabriela Melo and Marcelo Teixeira Editing by Chizu Nomiyama)