A binational initiative, the construction of the Itaipu power plant is the result of intense negotiations between Brazil and Paraguay, initiated in the 1960s. The Treaty of Itaipu, legal instrument for the exploitation of the hydroelectric potential of the Paraná River in the reach shared by the two countries, was signed in April 26 1973.
In May 1974 the Itaipu Binacional company was created with the mandate of both countries to build and operate the Itaipu power plant. Generation began in May 1984.
Nowadays, the power plant retains the title of world's leading producer of clean and renewable energy. In 2013, for the second consecutive year, it broke the world record a single power plant’s annual production, exceeding the 98,630,035 megawatt-hour mark. Over this year, Itaipu was responsible for supplying 17% of all electricity consumed in Brazil, and 75% of Paraguay.
In 2003, the company mission was changed "to generate quality electricity with social and environmental responsibility, driving economic, touristic and technological sustainable development in Brazil and Paraguay."
Itaipu's vision for 2020 is to be "the generator of clean, renewable energy with the best operating performance and the world's best sustainability practices, promoting sustainable development and regional integration"