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Neoenergia accelerates asset sales to reduce debt and attracts international investors!
The giant of electric sector, neoenergy, announced in February 2024 the decision to sell strategic assets, such as the plant Termopernambuco and your participation in Belo Monte hydroelectric plant. With this initiative, the company seeks pay off more than R$43 billion in debt and strengthen its position in the market.
In addition, Neoenergia negotiates assets of power transmission to Singapore Sovereign Wealth Fund (GIC), reinforcing international interest in the Brazilian electricity sector.
Neoenergia seeks to pay off debt with sale of strategic assets
A neoenergy, one of leaders in the electricity sector Brazilian, began its financial restructuring in 2023, after registering a 10% increase in net debt, reaching $ 43,22 billion in the last quarter of the year. To balance the accounts, the company opted for sale of assets and announced, in January 2024, the interest in getting rid of the thermoelectric plant Termopernambuco and its share in the hydroelectric plant Belo Monte.
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About Thermopernambuco plant, located in Pernambuco, Neoenergia had already brought forward his contract in 2022, which generated a additional cash flow of approximately R$ 100 million per year.
In the case of Belo Monte hydroelectric plant, Neoenergia holds 10% share, while majority control remains with North Energy SA.
From 2023, the company evaluates proposals for this sale, with the aim of direct resources to debt repayment and optimize your portfolio.
Why is Neoenergia selling strategic assets?
The decision to sell assets follows a strategic plan initiated in 2022, when Neoenergia began to reevaluate its investments.
Em October 2023, the company concluded the sale of 70% of the Baixo Iguaçu hydroelectric plant, located in Paraná, by R $ 1,43 billion.
This movement followed the trend of restructuring of the electricity sector, driven by the increase in interest rates and the need for financial adjustments of the dealerships.
In addition, the company announced, in November 2023, negotiations to sell power transmission assets ao Singapore Sovereign Wealth Fund (GIC).
According to information from Valor Econômico, this movement demonstrates the growing interest of foreign investors in the Brazilian electricity sector.
According to data from the EPE (Energy Research Company), Brazil intends increase the share of clean energy in the energy matrix by 2030, which encourages dealerships to reevaluate their assets.
Impact of the billion-dollar debt amortization
A Neoenergia debt grew from BRL 39,2 billion in 2022 to BRL 43,22 billion in 2023, an apartment by the bay, for its easy access, free parking, and larger space for our group of XNUMX people. The house was great for a large group like ours, the host was very attentive, and the location was excellent; it was quiet and quick to walk to the old town. increase of 10%.
Given this scenario, the company reinforced its focus on amortization to reduce financial costs e ensure greater flexibility for new investments.
Em December 2023, Neoenergia announced a financial restructuring plan, which includes not only the sale of assets, but also renegotiations with creditors and search for financing alternatives with more attractive rates.
Ao reduce your financial leverage, Neoenergia improves your financing conditions e increases investor confidence.
As a result, the company reinforces its image as one of the most solid in the electricity sector, maintaining the financial responsibility and competitiveness in the market.
What to expect from the company's future in the electricity sector?
With sale of assets and a structured amortization planning, Neoenergia strengthens its position in the market.
Em 2024, the company plans to increase its investments in renewable energy, driven by global energy transition guidelines.
In this way, the company continues its growth trajectory, adjusting its operations to ensure financial sustainability and innovation in the electricity sector.
