{"id":92741,"date":"2025-01-30T16:22:07","date_gmt":"2025-01-30T19:22:07","guid":{"rendered":"https:\/\/murray.adv.br\/?p=92741"},"modified":"2025-01-30T16:22:09","modified_gmt":"2025-01-30T19:22:09","slug":"neoenergia-negotiates-sale-of-hydroelectric-plant-in-parana","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/neoenergia-negotiates-sale-of-hydroelectric-plant-in-parana\/","title":{"rendered":"Neoenergia negotiates sale of hydroelectric plant in Paran\u00e1"},"content":{"rendered":"\n
Company holds 70% of the business, valued between R$1bn and R$1.2bn; asset attracts major players in the electric sector<\/em><\/strong><\/h6>\n\n\n\n

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01\/30\/2025<\/p>\n\n\n\n

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Neoenergia is in advanced talks to sell its 70% stake in the Baixo Igua\u00e7u Hydroelectric Plant in Paran\u00e1, Valor learned from four market sources. The asset\u2019s valuation ranges between R$1 billion and R$1.2 billion. Copel holds the remaining 30% of the plant and does not plan to exit the company.<\/p>\n\n\n\n

Potential buyers include French EDF, Brazilian Casa dos Ventos, Chinese Spic, and Czech EnergoPro, according to sources familiar with the matter.<\/p>\n\n\n\n

If the sale is completed, the new owner will take over a project capable of supplying electricity to about one million people. The asset\u2019s concession expires in 2049. Located in the final stretch of the Igua\u00e7u River, between the municipalities of Capanema and Capit\u00e3o Le\u00f4nidas Marques in southwestern Paran\u00e1, the plant began operations in 2019 after receiving an investment of R$2.3 billion.<\/p>\n\n\n\n

Sources indicate that the asset\u2019s divestment process is in its final stages, narrowing down between EDF and EnergoPro. The sale of the plant is part of Neoenergia\u2019s strategy of asset rotation to optimize and enhance its portfolio\u2014conducting swaps and divestments for this purpose.<\/p>\n\n\n\n

At the end of 2022, Neoenergia announced an asset swap with Eletrobras, valued at R$787.8 million, without cash transfer. In 2023, it completed the sale of 50% of a transmission platform to Warrington Investment.<\/p>\n\n\n\n

Another reason is the company, controlled by the Spanish group Iberdrola, is also striving to reduce its leverage, with a net debt-to-Ebitda ratio at 3.43 times, according to third-quarter 2024 data. The previous year\u2019s same period showed a ratio of 3.11 times, according to Valor Data. Currently, the net debt stands at R$50.6 billion.<\/p>\n\n\n\n

The plant was auctioned to Neoenergia, with which Copel began negotiations in 2011. The project operates on a run-of-the-river model, using the natural river flow for power generation without requiring large reservoirs. This technology reduces environmental impacts by preserving the river\u2019s natural dynamics and minimizing flooding, although it makes the plant more susceptible to water level fluctuations, potentially affecting output during droughts.<\/p>\n\n\n\n

EDF is aiming to expand its presence in Brazil, already operating in transmission and wind, solar, hydro, and thermal power generation. In April 2024, the company participated in the contest for control of Empresa Metropolitana de \u00c1guas e Energia (Emae) but was outbid by the Phoenix Fund, owned by investor Nelson Tanure, who won with an offer of R$1.04 billion. Recently, EDF also acquired a solar energy park from Volga Energia.<\/p>\n\n\n\n

EDF is France\u2019s largest energy producer and returned to French state control in 2023 after nearly 18 years in the stock market. Its shares were delisted from the Paris Stock Exchange, and the nationalization cost the French government \u20ac9.7 billion.<\/p>\n\n\n\n

The Czech company Energo-Pro is expanding its presence in the Brazilian market and seeking new opportunities in the hydroelectric sector. At the end of November 2024, the company acquired seven small hydroelectric plants (PCHs) from the Canadian manager Brookfield, totaling 90 MW of installed capacity. This move signals the company\u2019s interest in strengthening its presence in the country, expanding its renewable generation portfolio.<\/p>\n\n\n\n

Since acquiring Pacific Hydro, Spic has significantly expanded its presence in Brazil\u2019s electric sector. The company controls the Millennium and Vale dos Ventos wind farms in Para\u00edba and acquired the S\u00e3o Sim\u00e3o Hydroelectric Plant for R$7.18 billion in 2017. In 2020, it expanded its investments in the thermal segment by acquiring stakes in GNA I and GNA II projects, while integrating future GNA III and GNA IV projects. The Chinese government-controlled company also reinforced its renewable generation presence by taking control of Canadian solar plants and announced the construction of a new wind farm in Rio Grande do Norte.<\/p>\n\n\n\n

Casa dos Ventos, a wind energy producer owned by the Araripe family with French group TotalEnergies as a minority investor, also seeks to diversify its portfolio. Within its growth plan for renewable energy supply, the company is also targeting solar sources.<\/p>\n\n\n\n

Neoenergia, Casa dos Ventos, and EDF did not comment when approached. Spic declined to comment on mergers and acquisitions. EnergoPro did not return requests for comment.<\/p>\n\n\n\n

Environmental hurdles have been the main challenge for implementing new hydroelectric potentials, especially in the Amazon region. This scenario helps explain the growing interest from both national and international investors in acquiring operational assets.<\/p>\n\n\n\n

Portuguese EDP resumed the sale process of the Santo Ant\u00f4nio do Jari (392.95 megawatts) and Cachoeira Caldeir\u00e3o (219 MW) hydroelectric plants in Amap\u00e1. \u00c2mbar Energia, a company controlled by holding J&F, purchased four Cemig hydroelectric plants in a late 2024 auction for R$52 million.<\/p>\n\n\n\n

In January, Gerdau announced the purchase of two Small Hydroelectric Plants (PCHs), Garganta de Jararaca and Paranatinga II, in Mato Grosso, for R$440 million.<\/p>\n\n\n\n

Over the past decade, with substantial changes in the energy mix, considering the significant increase in the share of sources that do not generate energy continuously, such as wind and solar photovoltaic, hydropower\u2019s role has become crucial.<\/p>\n\n\n\n

Marisete Pereira, president of Abrage, an association representing hydroelectric generation companies, explains that hydroelectric plants play an essential role in the reliability of Brazil\u2019s electrical system, providing services such as power, flexibility, and other services, along with a centennial lifespan.<\/p>\n\n\n\n

The electric sector estimates that 11 GW of power could still be added to the system through modernization and repowering of plants. This is equivalent to the capacity of the Belo Monte plant.<\/p>\n\n\n\n

With the Capacity Reserve Auction (energy security) expected to occur in mid-2025, the expectation is that contracted plants will act as capacity reserves, adjusting generation according to demand and filling gaps left by intermittent sources.<\/p>\n\n\n\n

*By\u00a0M\u00f4nica Scaramuzzo\u00a0e\u00a0Robson Rodrigues \u00a0\u2014 S\u00e3o Paulo<\/p>\n\n\n\n

Source: Valor International<\/p>\n\n\n\n

\nhttps:\/\/valorinternational.globo.com\/\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"

Company holds 70% of the business, valued between R$1bn and R$1.2bn; asset attracts major players in the electric sector 01\/30\/2025 Neoenergia is in advanced talks to sell its 70% stake in the Baixo Igua\u00e7u Hydroelectric Plant in Paran\u00e1, Valor learned from four market sources. The asset\u2019s valuation ranges between R$1 billion and R$1.2 billion. Copel […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[22927,25836],"class_list":["post-92741","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-neoenergia","tag-sale-of-hydroelectric-plant-in-parana"],"yoast_head":"\nNeoenergia negotiates sale of hydroelectric plant in Paran\u00e1 - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/neoenergia-negotiates-sale-of-hydroelectric-plant-in-parana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Neoenergia negotiates sale of hydroelectric plant in Paran\u00e1 - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Company holds 70% of the business, valued between R$1bn and R$1.2bn; asset attracts major players in the electric sector 01\/30\/2025 Neoenergia is in advanced talks to sell its 70% stake in the Baixo Igua\u00e7u Hydroelectric Plant in Paran\u00e1, Valor learned from four market sources. 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