The Brazilian power utility Eletrobras has acquired 100% of Companhia Hidrelétrica Teles Pires, which owns and operates the 1.82 GW Teles Pires hydropower plant, located on the border of the Brazilian states of Pará and Mato Grosso, in the municipalities of Jacareacanga and Paranaíta.
Previously, Eletrobras owned 49% of the company. The transaction was concluded after the exchange transaction was signed between Eletrobras Eletronorte, a subsidiary of Eletrobras, and Neoenergia. The operation took place without cash inflow or outflow, given the exchange of assets transacted.
Eletrobras (37% state-owned) has a production capacity of 43 GW, which represented 22% of the country's capacity (2022) (36% in 2011). Eletrobras holds shares in two large hydropower plants, namely the 3.75 GW Jirau (40% share) and the 3.57 GW Santo Antonio (39% share). Eletrobras also owns almost 50% of Norte Energia (NESA), the company responsible for the construction of the Belo Monte Dam (11.2 GW). In 2022, the State reduced its stake in Eletrobras from 72% to 45% after a BRL29.3bn (US$5.7bn) sale, which included issuing new shares. At end-2022, the share of the State decreased to 37%.
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