ENGIE Brasil Energia, a leader in renewable energy generation, has signed an agreement for the acquisition of two hydropower plants.
The acquisition of the plants, the Santo Antônio do Jari hydropower plant in the states of Amapá and Pará and the Cachoeira Caldeirão hydropower plant in the state of Amapá, will add a further 612 MW of installed capacity to the company’s generator park. The total value of the transaction is approximately R$2.9 billion, consisting of R$2.3 billion in equity value and R$671 000 in net debt. The assets are fully contracted in the regulated market environment.
Eduardo Sattamini, ENGIE Brasil Energia CEO, responded: “We remain committed to the sustainable and responsible growth of our portfolio. The acquisition of these two assets is aligned with our focus on strengthening our position in the electricity sector, increasing the weight of hydropower plants in our generator park, and extending the average term of concessions with fully contracted long-term capacity in the regulated market environment.”
The two units are to be integrated into the generator park which currently totals 11.3 GW across 115 plants, 11 of which are hydroelectric while the remaining 104 are fired from complementary sources such as biomass, solar heat pump systems, wind, and solar.
Chief Financial and Investor Relations Officer, Eduardo Takamori, added: “The business will create shareholder value by allowing the company to allocate capital to assets that are already operational and have secured long-term revenue flows and, with a good balance between risks and returns, we will also be able to apply recognised expertise in operating hydropower plants.”
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