Evoltz aims for growth in power transmission with Abengoa’s assets

Evoltz, a company founded to reunite power transmission assets acquired by controlling shareholder TPG Capital amid Abengoa’s judicial recovery in Brazil, is now preparing to expand operations after a two-year financial restructuring process. The company owns seven transmission lines totaling 3,500 kilometers mainly in the Amazon with allowed annual revenues of R$524.3 million. After a slimming-down effort that led to R$400 million in savings, Evoltz now wants to become a reference in Brazilian power transmission. “This segment is consolidating and will continue this way. We will be able to position ourselves to be part of this process, or to acquire new lines,” CEO João Nogueira Batista says.

Source: Valor Econômico