Centrais Elétricas Brasileiras S.A. – Eletrobras, together with its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company projects, builds, and operates generating power plants, and electric power transmission and distribution lines; and holds concessions to offer electric power distribution services. As of December 31, 2011, it owned and operated 27 hydroelectric plants; 119 thermal plants, including coal and oil power generation units; and 2 nuclear power plants. The company also grants funds; provides guarantees to electricity public utility companies under its controlling interest and on behalf of technical-scientific research entities; and promotes and supports research in the electricity sector in connection with the generation, transmission, and distribution of electric power, as well as performs studies involving the exploitation of watershed for various purposes. In addition, it contributes to the education of technical personnel and qualified workers required by Brazilian electricity sector through specialized courses; provides assistance to schools, and scholarships and signing contracts for the training of specialized technical personnel; collaborates technically and administratively with companies in which it holds interests, and with the Ministry of Mines and Energy; and manages incentive program for alternative sources of electricity. The company was founded in 1962 and is based in Rio de Janeiro, Brazil.