Brazil with more energy investments: Neoenergia announced acquisition of CEB with a 400 million euros investment

ENERGIA LIMPIA XXI. Neoenergia, through its subsidiary Bahia Geração de Energia SA (“Bahia PCH III”), has been the winner in the auction held this morning for the privatization of the electric energy distributor CEB Distribuição SA (“CEB-D”), after submit an offer for the amount of R $ 2,515,000,000 [about 400 million euros], for 100% of the company CEB-D is the electric power distributor of the Federal District of Brasilia and supplies electricity to a population of 3 million of people. In 2019, the company had 1.1 million consumers and supplied a total of 6,577 GWh. A report carried by Energía Limpia XXI magazine highlights that the acquisition of CEB-D is one more step in line with the strategy of Neoenergia’s expansion plan in the Brazilian electricity sector.

The liquidation of the auction, as well as the completion of the acquisition of CEB-D Shares, through the execution of a contract for the sale of shares, are subject to the approval of the auction result by the Bidding Committee. prior approval of the Administrative Council for Economic Defense – CADE and prior consent of the National Electric Energy Agency – ANEEL.

Likewise, the acquisition of CEB-D shares is subject to the General Meeting of Neoenergia. Iberdrola, through its subsidiary Neoenergia, which is listed on the Sao Paulo Stock Exchange, continues to accelerate its commitment to Brazil, where it already manages a network of distribution of 640,417 km, covering a population of 34 million people. Likewise, Neoenergia has more than 3,500 renewable megawatts (MW) in operation and provides electricity service to 14.1 million customers.

One comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s