Eletrobras takes over 100% of Teles Pires

Eletrobras now owns 100% of the Teles Pires Hydroelectric Company. Eletronorte held 49% of the project.

Key Highlights:

* The ownership transfer was made through a swap agreement between Eletrobras Eletronorte and Neoenergia.

* The transaction did not involve any cash inflow or outflow.

* This move aligns with Eletrobras strategic objective of rationalizing its holdings.

Original Press Release:

Sept. 26 -- Eletrobras issued the following news release:

Eletrobras now holds 100% of Companhia Hidrelétrica Teles Pires, after the conclusion of the exchange transaction signed between the subsidiary Eletrobras Eletronorte and Neoenergia. Eletrobras owned 49% of the project, and the operation takes place without cash inflow or outflow, given the exchange of assets transacted.

The transaction is aligned with the strategic objective of rationalizing shareholdings, as foreseen in the company's strategic planning, and will result in corporate optimization, as Eletrobras will no longer hold shares in the companies Neoenergia Afluente T, Neoenergia Coelba, Neoenergia Cosern and EAPSA, and will now own 100% of the Teles Pires Hydroelectric Company and 66% of the UHE Baguari Consortium.

The Teles Pires hydroelectric plant, built on the river of the same name, is located on the border of the states of Pará and Mato Grosso, in the municipalities of Jacareacanga (PA) and Paranaíta (MT). The project has an installed capacity of 1,820 MW, enough energy to supply a population of 13.5 million inhabitants.

The plant operates with high technology and innovation in all equipment and processes to generate energy in a clean and sustainable way, with the development of actions that constantly seek economic, social and environmental balance.

Disclaimer: The Above Content is Auto-Translated

Source: Eletrobras

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