Eletrobras Santo Antonio Power Plant bounces back after Brazil's historic drought
Santo Antonio is one of Brazil's biggest hydroelectric plants. Its head said that the plant had survived an extreme drought. He credited the plant's resilience with a series of measures which kept it running, even at record low water levels. According to the Brazilian geological service, Santo Antonio on Amazon's Madeira River was forced to temporarily stop operations in 2023 due to drought, which lowered water levels to an all-time low of 1.1 meters (3.6 feet).
Eletrobras and Ocean Winds have agreed to evaluate offshore wind projects in Brazil
The Brazilian power company Eletrobras signed a Memorandum of Understanding with Ocean Winds on Tuesday to study the development and deployment of offshore wind farms. In the future, offshore wind farms will be a key technology for generating large amounts of renewable energy in Brazil. The world's sixth-largest producer of onshore energy, in terms of capacity, does not have any offshore farms because it lacks a regulatory framework to support these projects.
Vale and GEP team up to explore green hydrogen in Brazil
The mining giant Vale announced on Tuesday that it has teamed up with Green Energy Park to explore the possibilities for green hydrogen production within the South American nation. Brazil is looking to develop green hydrogen as part of its efforts to unlock new industries to power its energy transformation. The government has called it a "real opportunity" for the country's footprint to expand in renewables. Vale wants to concentrate on low-carbon initiatives in the steel industry, as it strives to achieve net-zero emissions of carbon by 2050.
Shell Brazil Evaluating Potential Purchase of Eletrobras Assets
Royal Dutch Shell's Brazil chief said on Wednesday that the company is evaluating the assets of Centrais Eletricas Brasileiras SA's that are being put up for sale as part of the state-owned utility's debt reduction and privatization plans.Andre Araujo also told reporters that the company was considering participating in an upcoming Brazilian government auction for projects in the wind energy sector.Reporting by Alexandra Alper, writing by Jake Spring
Eletrobras Shares Sink After Privatization Decision
Shares of Brazil's state-run power company Eletrobras fell over 9 percent in early trading after a Congressional decision late on Tuesday to not vote on one of the decrees regarding the privatization of the company and some of its subsidiaries.The head of Brazil's lower house, Rodrigo Maia, said it would not put for a vote a presidential decree outlining rules for the sale of public power companies, asking President Michel Temer to send a draft bill instead.Reporting by Marcelo Teixeira
Eletrobras to Complete Part of Divestitures by H1 2018
Brazil's state-controlled power holding company Eletrobras expects to complete most of its divestiture program by the end of first half next year, Chief Executive Wilson Ferreira Jr said on Tuesday. Centrais Elétricas Brasileiras SA, as the company is formally known, is in talks to sell minority stakes in dozens of power transmission and power generation projects. It will also auction off six power distribution companies located in Northern Brazilian states early next year. Reporting by Luciano Costa; Writing by Marcelo Teixeira
Eletrobras to Release Rules for Sale of 6 Distributors
Brazil's state-controlled power holding company Eletrobras will release rules in coming days for the sale of six regional power distribution companies, Chief Executive Wilson Ferreira Jr said on Wednesday. The sale of the underperforming, heavily indebted units is part of a divestiture program at the company known formally as Centrais Elétricas Brasileiras SA. Global power companies have shown interest in the process, depending on the conditions. Reporting by Luciano Costa; Writing by Marcelo Teixeira
Petrobras May Take Over Eletrobras Thermal Power Stations
Petróleo Brasileiro SA may take over some thermal power stations run by Centrais Elétricas Brasileiras SA in exchange for forgiving some of Eletrobras' billions of dollars in debt, newspaper Valor Econômico reported on Tuesday. An agreement would help both companies cut debt and focus on core operations, a key step in the sale of Eletrobras subsidiary Amazonas Energia and the possible initial public offering of Petrobras unit BR Distribuidora SA.
Eletrobras CEO Says Not Considering Resigning
Wilson Ferreira Jr, the chief executive officer of Brazilian state-controlled power utility Eletrobras, on Monday said he is not considering resigning from his post. Some union leaders had called for his resignation after he called some of the employees of Brazil's largest power company 'bums'. Ferreira, who apologized for the remarks, said he wants to achieve a goal of developing a positive strategy for the company (Reporting by Rodrigo Viga Gaier; Writing by Marcelo Teixeira)
Court Orders Petrobras to Supply Natural Gas to Eletrobras
A Brazilian court ordered state-controlled oil firm Petróleo Brasileiro SA to sell natural gas to Centrais Elétricas Brasileiras SA despite the power utility's billionaire debt with the oil company. Eletrobras, as the state-controlled utility is known, plans to use the gas to begin testing a thermal power station under construction in the Amazon region that is scheduled to start operating in June. (Reporting by Luciano Costa; Writing by Bruno Federowski)
Brazil Aims to Raise $7.7 bln in Oil, Gas Auctions
Brazil's government expects to raise at least 24 billion reais ($7.7 billion) in oil and gas auctions through 2019, Energy Ministry Executive Secretary Paulo Pedrosa said on Monday. The auctions, which include presalt exploration areas, should raise at least 8.5 billion reais in 2017, Pedrosa said. Proceeds from the sale of distribution companies held by state energy holding company Centrais Eletricas Brasileiras SA , may be divided between the company, known as Eletrobras, and the federal Treasury, he said. Reporting by Rodrigo Viga Gaier
Brazil Attracts Investors to Power Transmission Auction
The Brazilian government awarded licenses for companies to build and operate 6,126 km (3,829 miles) of power transmission lines, finding investors for 21 of 24 lots offered in an auction on Friday. It was the best outcome for a licensing round of that type since 2012. Brazil's electricity regulator Aneel, which organized the auction, estimates the new licenses will require investment of 11.6 billion reais ($3.61 billion). Local group Equatorial Energia SA was a featured player, snapping seven lots.
Eletrobras to Sell Real Estate, Complete Power Lines, CEO says
Brazil's financially troubled state-controlled electricity utility holding company Eletrobras plans to focus efforts on completing existing projects before bidding on new plants and power lines, its Chief Executive said on Friday. Centrais Eletricas Brasileiras SA, as the utility is formally known, is also asking its subsidiaries to review their real estate holdings in an effort to raise cash for the heavily indebted company, the CEO, Wilson Ferreira Junior told reporters in Sao Paulo. (Reporting by Jeb Blount)
Eletrobras' CEO Plans to Resign over Asset Sales
The chief executive of Brazil's state energy holding company Eletrobras SA, Jose da Costa Neto, has prepared a resignation letter over plans by the new government to sell off assets of the cash-strapped company, a source with knowledge of the situation said on Friday. Costa Neto, who was appointed by suspended President Dilma Rousseff, is opposed to interim President Michel Temer's plan to privatize assets including Eletrosul and Furnas, the source said. (Reporting by Rodrigo Viga Gaier; Writing by Reese Ewing; Editing by Chizu Nomiyama)
Eletrobras Loses $1.12 Bln in Q1
Brazil's state-controlled electricity holding company Centrais Elétricas Brasileiras SA reported on Thursday a loss of 3.89 billion reais ($1.12 billion) in the first quarter, sharply reversing a gain of 1.11 billion reais a year earlier. The company, which controls 15 subsidiaries in Brazil and has a 50-percent stake in the country's largest hydroelectric dam Itaipu, said losses from some of its power distribution companies and smaller revenues from electricity sales in the spot power market impacted its first quarter results.
Brazil to Pay Energy Debt from 2017
Brazil's government will pay debt it owes to energy transmission companies starting in 2017, the country's official gazette said on Friday, a surprise decision that sent shares of energy companies soaring. The debts stem from changed energy policy four years ago. In March, the government said it would only start repaying them in 2019 because it did not want to further raise prices for consumers. Energy prices surged last year, boosting inflation and denting consumer purchasing power during Brazil's deepest recession in decades.
Brazil to Pay Debt to Energy Companies Starting in 2017
Brazil's government will pay debt to energy transmission companies starting in 2017, the country's official gazette said on Friday, a surprise decision that sent shares of energy companies soaring. In March, the government said it would only repay the debts in 2019 because it didn't want to further raise prices for consumers. Shares of privately held power company Cteep and state-run Eletrobras each rose 10 percent. (Reporting by Luciano Costa)
Brazil's Eletrobras Hires Bank for Eletrosul Asset Sale
State-controlled power holding company Centrais Elétricas Brasileiras SA has hired an unidentified investment-banking firm to advise on a plan to sell a portion or all of a subsidiary's renewable energy assets, Chief Executive Officer José da Costa Carvalho Neto said on Tuesday. Two sources with direct knowledge of the matter told Reuters exclusively on Monday that the utility known as Eletrobras had brought in Credit Suisse Group AG to conduct the sale of several wind farms and other assets belonging to a unit called Eletrosul.
Brazil Cautious on Re-starting Hydro Dams After Mining Spill
Four hydroelectric dams along Brazil's Rio Doce remain closed for an indefinite time after a deadly mining spill in November flooded the river with thick mud, according to water agency ANA. ANA said in an emailed statement that only one of four hydro plants along the 800 km (497 mile) river, which runs through states of Minas Gerais and Espirito Santo, had requested to power up as the others continue to assess potential damage from the spill. The bursting of a dam at the Samarco iron ore mine on Nov.
Brazil Blocks Belo Monte Dam Operation
A Brazilian federal court has revoked a lower court's injunction that had suspended the operating license for the Belo Monte hydroelectric dam, one of the world's largest, Brazil's Energy Ministry said in a Twitter post on Wednesday. The ministry said a decision from the federal court in Brasilia lifted the earlier order blocking the beginning of power generation at Belo Monte, which had been planned for the coming weeks. Belo Monte, a dam built on the Xingu River in the middle of the Amazon forest…
