The Brazilian Metropolitan Water and Energy Company (EMAE) was auctioned by the state of São Paulo (Brazil) in a highly disputed auction of 56 bids where the investment fund Phoenix FIP was awarded as the highest bidder with a proposal of BRL1.04 bn (US$200m). Phoenix FIP outbid French energy company EDF for the stake in EMAE, paying BRL70.65 (US$13.67) per share
EMEA is a local power generator that owns and operates a hydraulic and energy generating system that stretches across São Paulo. Its main asset is the 889 MW Henry Borden hydroelectric plant, and it generated about 1.7 TWh in 2023. The state of São Paulo owned 97.6% of EMAE's common shares, but decided to sell its stake in the firm as part of a privatization policy of the Brazilian government.
At the end of 2022, Brazil had a total installed capacity of 206 GW, with hydroelectricity dominating the power mix with 53% of the capacity (110 GW).
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.