The tight deadline and low rates of return may limit the number of investor interested in Eletrobras’s 71 stakes in generation and transmission assets offered for sale. The slices in the special purpose companies (SPEs) amount to at least R$3.1 billion, and will be auctioned on Thursday on B3. The…
Cemig, the state-owned power utility of Minas Gerais, announced plans to hold auctions of new wind and solar projects in October. The company wants to rebuild its portfolio to meet demand from unregulated contracts after losing the concession of hydroelectric dams São Simão, Jaguara, Miranda and…
Brazilian Development Bank (BNDES) President Dyogo de Oliveira raised the lender’s equity divestment target to R$12 billion from R$10 billion this year. The bank has already shed R$6 billion in stakes, including R$3.7 billion in Petrobras stocks and R$1.4 billion in Eletropaulo stocks. Mr. Oliveira…
The dispute for Eletropaulo, holder of the largest concession of power distribution in the country, is getting fiercer. Potential bidders were talking with the São Paulo utility’s board, but a proposal made by Energisa Thursday evening of making a public offer put a sense of urgency that the talks…
Very few Brazilian infrastructure investments find financing through capital markets. The situation has dragged on for years and persists even after companies restarted issuing bonds and the Brazilian Development Bank (BNDES) begun downsizing.
Neoenergia, power utility controlled by Spanish group Iberdrola, plans to invest €5 billion in Brazil between 2018 and 2022. Iberdrola CEO Ignacio Galán, chairman of the Brazilian company, says such investment includes new projects, mainly of power generation and transmission, and may increase in…