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Installed in Ceará, the Pecém thermoelectric plant may have shares sold by EDP Brazil in the near future.
EDP Brazil, a Brazilian holding company working with the electricity sector, may sell a stake in the coal-fired thermoelectric plant in Pecém, Ceará. However, the company is not expected to remain a shareholder and technical operator of the plant until 2027, which is when the current contracts for the asset expire, said the CEO of the electric company, João Marques da Cruz, last Wednesday (02/01).
Although there is an intention to sell shares of the Pecém thermoelectric plant, it is “not an asset for sale at this moment”
“We are, as always, attentive to the market… If there are opportunities to sell some shares of this plant, we may consider this possibility, but no decision has been made, it is not an asset for sale at this moment,” he told journalists after participating in a Credit Suisse event.
EDP recently stated that it will recognize an accounting write-down of R$ 1.2 billion related to the Pecém plant, following a reassessment of the asset after the cancellation of the capacity reserve auction originally scheduled for 2022, in which the company had plans to renew the contracts for the project.
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The thermoelectric plant, which is located in the Pecém industrial and port complex, has an installed capacity of 720 megawatts (MW) and is powered by mineral coal.
According to EDP, the plant project was designed to mitigate environmental impacts, utilizing high technology aimed at making operations cleaner and more efficient.
EDP Brazil has also committed to environmental preservation by reducing pollutant emissions and installing a pilot plant for green hydrogen production
The thermoelectric plant is also the platform for the research and development (R&D) project for green hydrogen.
EDP invested R$ 42 million to install a pilot plant for green hydrogen production, which produced its first molecule of renewable fuel at the end of last year.
EDP Brazil, like other companies, has taken on the commitment to reduce its carbon emissions, aiming to lessen negative impacts on the environment.
At this moment, the company aims to decommission coal assets from its portfolio by 2025.
Cruz also noted on Wednesday that the company will explore the opportunity to acquire the energy distributor in Ceará, which is expected to be put up for sale by the Italian company, Enel.
“It is our obligation to look at all distribution assets, as we did with Enel Goiás… More than just looking, it depends on the analysis we make at the right time, this process has not yet begun,” he stated.
Enel announced last year its intention to divest control of the Ceará distributor, just as it divested the Goiás concessionaire, strategizing a move to concentrate efforts on power distribution in the metropolitan areas of São Paulo and Rio de Janeiro.
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