Petrobras divestments in thermoelectric and hydroelectric plants: State informs sale of slices in five power plants

Petrobras informed the progress of the sale of slices in five power plants in the states of Pernambuco, Tocantins, Goiás and Amazonas

Petrobras informed in a relevant fact last night (11/09) the beginning of the binding phase for the sale of its stake in five electrical energy generation plants (thermoelectric and hydroelectric) that are located in four states of the country: Pernambuco, Tocantins , Goiás and Amazonas. Petrobras put up its stake in exploratory oil blocks in the Espírito Santo Basin for sale

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The sale corresponds to shares in the following companies: Brasympe Energia SA, Energética Suape II, Termoelétrica Potiguar, Companhia Energética Manauara (CEM) and Brentech Energia.

Petrobras owns 20% of Brasympe and 20% of Suape II, both located in Pernambuco; 20% of TEP, located in Tocantins; 40% of CEM, in Amazonas and 30% of Brentech, located in the state of Goiás. The plants range from thermoelectric to hydroelectric power stations and have a total installed capacity of almost 700 megawatts.

FASHION – FREE MARKET

Over the years, Petrobras has sold a number of assets in a bid to reduce debt and focus on oil exploration and production offshore Brazil.

“Potential buyers classified for the binding phase will receive an invitation letter with detailed instructions on the divestment process, including guidelines for carrying out due diligence and for sending binding proposals.”, Petrobras said in the statement.

About Petrobras' stakes in thermoelectric and hydroelectric plants

Petrobras owns:

• 20% of Brasympe, which in turn owns 60% of Termocabo, which owns a thermoelectric plant powered by fuel oil located in Pernambuco.
• 20% of Suape II, which owns a fuel oil thermoelectric plant located in Pernambuco, with an installed capacity of 381,25 MW.
• 20% of TEP, a holding company that has a 60% stake in Companhia Energética Manauara (CEM) and 70% in Areia Energia and Água Limpa Energia, owners of small hydroelectric plants, located in Tocantins.
• 40% of CEM, which owns a dual-fuel thermoelectric power plant (fuel oil and natural gas) located in Amazonas.
• 30% from Brentech, owner of the diesel-powered Usina Termeloétrica Goiânia II, located in Goiás