Âmbar, Eneva compete for Eletrobras thermal plants

Energy companies Âmbar and Eneva have reached the second phase of the process to acquire Eletrobras’s thermal power plants, which is estimated to reach between R$7 and R$8 billion, Valor has learned. According to sources, two other companies in the sector are also in the running for the former state-owned company’s gas-fired power plants.The U.S. bank Morgan Stanley was hired last year to structure the sale process. Bids can be submitted for the package or for individual plants.The portfolio up for sale includes the Mauá 3, Aparecida, and Santa Cruz thermoelectric plants, the Interior Complex (Anamã, Caapiranga, Codajás, and Anori), as well as the 2025 reversion rights of the PIEs Complex (Cristiano Rocha, Tambaqui, Manauara, Ponta Negra, and Jaraqui) and the Rio Negro project, with a total capacity of 2 GW.After its privatization in 2022, Eletrobras already demonstrated its intention to change the company’s structure, announcing in its Strategic Plan 2023-2027 that it had plans to become a benchmark in clean energy and to simplify its corporate structure, as well as to restructure its asset portfolio and strengthen environmental and social objectives. Today, the company is under the command of Ivan Monteiro, who took over after the departure of Wilson Ferreira Jr., still in 2023.Âmbar has acted aggressively with strong inorganic growth, with important acquisitions in recent years. The company is controlled by J&F, the Batista brothers’ holding firm that also owns meatpacking giant JBS. Âmbar entered the oil and gas industry in December 2023 with the purchase of Fluxus, owned by Ricardo Savini, in a deal whose value was not disclosed.In the same period, the company bought 81.2% of the Araucária natural gas thermoelectric plant (Uega) from Copel for R$320.7 million, after...

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