07/22 Closing prices/ revised 07/23/2024 07:50 GMT  |                                                                          07/22 OPEC Basket  $82.77   -$2.04 cents 07/22 Mexico Basket (MME)  $73.72   -$0.37 cents  | 06/31 Venezuela Basket (Merey)   $69 23   -$1.22 cents| 07/22 NYMEX WTI  August CLQ24  $79.78  -$0.35 cents | 07/22 ICE Brent Sept  BRNU24  $82.30 -$0.23 cents  | 07/22 NYMEX Gasoline Aug RBQ24 $2.47 +0.8 %  |  07/22 NYMEX  Heating Oil  Aug  RBQ 24  $2.43  +0.7% | 07/22 Natural Gas August NGQ 24    $2.25   +5.8%  | 07/19 Active U.S. Rig Count (Oil & Gas)    586  +2   | 07/23 USD/MXN Mexican Peso 17.9848 (data live)  | 07/23 EUR/USD   1.0877 (data live)  | 07/23 US/Bs. (Bolivar)   $36.5314000 (data BCV) |

Eletrobras, Iberdrola unit swap power stakes worth $148 mln – Reuters

he facade of Neoenergia NEOE3.SA energy company headquarters is pictured in Rio de Janeiro, Brazil July 24, 2019.
The facade of Neoenergia NEOE3.SA energy company headquarters is pictured in Rio de Janeiro, Brazil July 24, 2019. ( Ricardo Moraes / Reuters )

Reporting by Nayara Figueiredo, Reuters

SAO PAULO, Reuters

EnergiesNet.com 12 16 2022

Brazilian power companies Neoenergia (NEOE3.SA) and Eletronorte, a subsidiary of utility Eletrobras (ELET6.SA), agreed on Friday to stake swaps worth 787.8 million reais ($148 million), in moves that will mainly exchange holdings in hydropower plants.

Under the deal, Neoenergia – controlled by Spain’s Iberdrola SA (IBE.MC) – will take a 49% stake in the Dardanelos hydroelectric plant, and 0.04% in Neoenergia Coelba, Neoenergia Cosern and transmission firm Afluente T.

Eletrobras, in turn, will take 51% of the Teles Pires hydroelectric plant, giving it full ownership of the company, plus Neoenergia’s 51% stake in the UHE Baguari hydropower plant building consortium.

This would give Eletrobras 66% of UHE Baguari’s assets, it said in a joint statement with Neoenergia.

Eletrobras said the deal would bring its installed capacity up to 872 MW and grow its operating cash generation by 397 million reais per year

The deal remains subject to approval from creditors and the Brazilian antitrust regulator CADE.

($1 = 5.3140 reais)

Reporting by Nayara Figueiredo; Editing by Muralikumar Anantharaman

reuters.com 12 16 2022

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com

CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

Scroll to Top