Petrobras sells its stake in two electricity companies

According to Petrobras, the sale is in line with the strategy of optimizing the portfolio and improving the company’s capital allocation (Photo: REUTERS/Sergio Moraes)

a Petrobras (PETR4It concluded, last Friday (05), the sale of 20% of its shares in Termelétrica Potiguar and 40% in Companhia Energética Manauara to Global Participações Energia (GPE) through its two subsidiaries GFT Participações and GFM Participações, respectively.

For its contribution, the state-owned company has received R$155.6 million, already with the expected contract modifications, of which R$79.4 million by Termelétrica Potiguar and R$76.2 million from Companhia Energética Manauara (CEM). The sale is in line with the strategy of portfolio optimization and optimization of Petrobras capital allocation, with the goal of maximizing value.

Termelétrica Potiguar (TEP) is a property controlled by Global Participações Energia, which owns 80% of its capital, and which has direct ownership stakes in Areia Energia SA and Água Limpa Energia SA, owners of small hydroelectric plants, located in Tocantins, with installed capacities of 11.4 MW and 14.0 MW, respectively. In addition, TEP owns 60% of CEM’s share capital. CEM has a natural gas thermoelectric power plant located in Amazonas, with a capacity of 85.4 MW.

GPE has been operating in the electricity generation sector since 2001, and controls seven plants distributed in the states of Rio Grande do Norte, Amazonas, Tocantins and Bahia. The company recently signed a contract with Petrobras to purchase three more thermoelectric plants, located in the Camaçari Industrial Pole, in Bahia.

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