The Brazilian state-owned power utility Eletrobras will sell its 78% stake in the 402 MW Santa Vitória do Palmar wind plant and its 100% stake in the 181 MW Hermenegildo 1, 2, 3 and Chui 9 wind projects in Brazil to the renewable energy company Omega Geração for a total consideration of BRL1.5bn (US$289m). Omega Geração has a wind, hydro and solar portfolio of 1,195 MW.
Eletrobras, which is the largest power utility in Brazil, owns 210 companies, including 8 mains subsidiaries, 173 joint ventures and stakes in 29 companies. The group has a production capacity of 51.1 GW, which represents 30% of the country's capacity (2019) including a 50% stake in Itaipu Binacional, the operator of the Itaipu hydropower plant (14 GW) and 50% of Norte Energia (NESA), the company responsible for the construction of the Belo Monte Dam (11.2 GW). The company also manages about half of the transport network with 71,000 km of transmission lines.
Earlier in July 2020, the Brazilian government presented a plan to reduce its stake in the power utility Eletrobras from 63% to 49% through a share offering, in a bid to raise more than BRL14bn (US$2.6bn). In April 2020, the Brazilian government had postponed the privatisation of Eletrobras from October 2020 to the second quarter of 2021 due to the coronavirus pandemic. Brazil initially expected to privatise around BRL150bn (US$28bn) in assets during 2020 focusing on energy assets from Eletrobras, with the objective to reduce the numbers of companies held by the government from 624 (at end-2019) to 300 by end-2020.
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