The Itaipu Dam is a hydroelectric dam on the Paraná River located on the border between Brazil and Paraguay. The name "Itaipu" was taken from an isle that existed near the construction site. In the Guarani language, Itaipu means "the sounding stone".
The concept behind the Itaipu Power Plant was the result of serious negotiations between the two countries during the 1960s. The "Ata do Iguaçu" was signed on July 22, 1966, by the Brazilian and Paraguayan Ministers of Foreign Affairs, Juracy Magalhães and Raúl Sapena Pastor, respectively.
In 1970, the consortium formed by the companies IECO , and ELC Electroconsult S.p.A. won the international competition for the realization of the viability studies and for the elaboration of the construction project. Design studies began in February 1971.