The Brazilian power generation company AES Tietê, a subsidiary of AES Corporation, has received a merger offer from Eneva, owned by the Brazilian investment bank BTG Pactual and private fund Cambuhy Investimentos. The value of the transaction is BRL7bn (US$1.5bn), of which 60% would be paid in Eneva shares (equivalent to a 22.6% stake) and 40% in cash. The proposal, which still has to be accepted by AES, is valid for 60 days and is subject to regulatory approvals.
AES Tiete owns a portfolio of 12 hydropower plants, 2 wind parks (one is still under construction) and 2 solar parks, with a combined capacity of more than 3.3 GW. Eneva mostly operates thermal power plants with a combined capacity of 2.2 GW, including 1.4 GW of gas-fired power plants and over 700 MW of coal-fired power plants. In addition, Eneva will add to units at its Parnaiba gas-fired power plant (385 MW and 92 MW, respectively) and build a 132 MW CCGT project at Jaguatirica, which will raise the company's capacity to 2.8 GW.
Once merged, the combined companies would have a combined portfolio of 6.4 GW through 2024, and would become Brazil’s fourth largest power generator.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.