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The Sale Of The Three Hydroelectric Plants Is An Alternative, But There Is Also The Possibility Of The Company Itself Being Privatized To Relieve The Public Treasury
Cemig, the state-owned company from Minas Gerais, is planning to privatize three hydroelectric plants (Sá Carvalho, Nova Ponte, and Emborcação), whose concession contracts expire between 2024 and 2025. Just like the federal government, which also has its disinvestment plan.
Cemig’s initial thought is to privatize the ventures so that the concessions can be renewed, upon payment of a fixed fee, without competition in an auction, this applies to both state-owned companies like Cemig and Copel and CEEE,
Cesp is a good model to be used, as the state-owned company extended the concession of the Porto Primavera hydroelectric plant under these terms. Cemig’s idea is to keep 49% of the plants to avoid the risk of losing all of them.
This is due to the fact that Cemig already lost 60% of its generation in 2013, when it did not renew the concessions of plants that expired at that time.
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State Government
To privatize the hydroelectric plants, the government of Minas Gerais will need the approval of the Legislative Assembly, as this requirement is stated in the state’s constitution.
There is also the possibility of privatizing Cemig as a whole, since it is an imposition from the federal government for the state to be part of the fiscal regularization program.
The governor of the state of Minas Gerais, Romeu Zema, will send the privatization program to the Legislative Assembly by the end of the month for it to be approved by the end of the year, and Cemig may or may not be included.
Cemig, just like the federal government, also has its disinvestment program to relieve the state of assets that do not have the expected return.
Renova is among the assets to be divested, currently in the process of selling the Alto Sertão III wind complex to AES Tietê.
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