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Named ENBpar, the new state-owned company created by the Government will take over the functions of Eletrobras and will control Eletronuclear and Itaipu Binacional
The new state-owned company that was created to take over the public functions of Eletrobras will be called ENBpar (Brazilian Company of Nuclear and Binational Energy Participation). The Federal Government allocated R$ 4 billion from the budget, which will be used to acquire control of Eletronuclear and the portion that Eletrobras holds in the capital of Itaipu. CLICK HERE TO READ THE DECREE ISSUED BY THE GOVERNMENT.
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The Role of the New State-Owned Company Created by the Federal Government
ENBpar will take over the assets that will not be privatized in the Eletrobras privatization program, such as Eletronuclear and Itaipu Binacional. According to the newspaper O Globo, the Federal Government has not disclosed more details about the new public company. The creation of ENBpar aims to ensure the maintenance under the control of the Union of the operation of nuclear plants, as well as the ownership of the social capital and the acquisition of electricity services from the Itaipu Binacional hydropower plant by an entity of the federal public administration.
The creation of the public company by the Government was provided for in the Provisional Measure approved by Congress, which allows the privatization of Eletrobras. The legislation requires that the Union maintains control, directly or indirectly, over companies, facilities, and holdings owned or managed by Eletronuclear and Itaipu. The Itaipu Treaty does not allow changes that have not been approved by Paraguay, which holds half of the plant, while nuclear exploration is the exclusive activity of the Union, as determined by the Constitution.
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Control of Eletronuclear and Itaipu Binacional
The General Secretariat states that the law authorizes the creation of ENBpar with the purpose of ensuring the maintenance under the control of the Union of the operation of nuclear plants, as well as the ownership of the social capital and the acquisition of electricity services from Itaipu Binacional by an entity of the federal public administration, to comply with the provisions of the Treaty between the Federative Republic of Brazil and the Republic of Paraguay for the hydroelectric utilization of the water resources of the Paraná River, which belong in condominium to both countries.
The company created by the Government will also be responsible for managing the assets of the Union under Eletrobras’s administration and for managing financing contracts that utilized the Global Reversion Reserve signed before November 2016.
The state-owned company will also manage the current account of the National Electric Energy Conservation Program, Procel, and the energy commercialization contracts generated by the project contracted under the Incentive Program for Alternative Sources of Electric Energy, Proinfa.
Also Read This News: Federal Government Launches Program to Boost Railway Construction
The Ministry of Infrastructure announced through a statement that after the Provisional Measure that enables the Pro Trilhos program of the Federal Government, 11 requests for authorization for railway construction across the country have already been received. Together, the requests total 3,300 kilometers of new tracks and R$ 53.5 billion in investments.
The Pro Trilhos program, from the Federal Government, was established by Provisional Measure No. 1.065/21 aiming to increase the attractiveness of the private sector for investments in railways, whether through new projects or using existing railways. During the ceremony, requests for railway authorization were signed for the construction of 11 sections of railways. Together, the requests total 3,300 kilometers of new tracks and R$ 53.5 billion in investments. The new railways will pass through cities in nine states across four Brazilian regions: Espírito Santo, Maranhão, Mato Grosso, Mato Grosso do Sul, Minas Gerais, Paraná, Pernambuco, Piauí, and São Paulo.
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