Privatized In 2022, The Company Began The Sale Of 12 Thermoelectric Plants And Now Wants To Sell Non-Operational Assets Such As Hotels And A Theater Related To Previous Power Generation Projects.
Eletrobras, The Largest Energy Company In Latin America, Is Advancing In A Simplification Plan: After Closing The Sale Of 12 Thermoelectric Plants To Âmbar Energia (J&F) For R$ 4.7 Billion, The Company Prepares To Dispose Of A Hotel And Even A Cinema Inherited From The State Period. The Move Is Part Of A Strategy To Focus On Generation And Transmission And Reduce Costs.
Privatized On June 14, 2022, Through An Offering On The B3 That Diluted The Union’s Share And Maintained A Golden Share, The Company Is Reorganizing Its Portfolio To Achieve Operational And Financial Efficiency.
The Uncommon Assets Date Back To The 1950s And 1960s When, To Build Large Hydroelectric Plants, Eletrobras Built Entire Towns And Support Structures. Part Of This Legacy Includes An Airport, Hotels, And A Cinema In The Furnas Region (MG) And A Hospital In The Hydroelectric Hub Of Paulo Afonso (BA), Already Assigned To The Local University.
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Why Eletrobras Has A Hotel And Cinema On Its Balance Sheet
The Origin Lies In The Era Of Major Projects In The Last Century. To Enable Hydroelectric Plant Such As Furnas, The State-Owned Company Established Workers’ Villages And Services, A Common Practice In The Developmental State That Ultimately Remained In The Portfolio. It Is A Physical Legacy Of An Outdated Expansion Model.
In São José Da Barra (MG), Near The UHE Furnas, The Company Still Holds An Airport, Two Hotels, And A Cinema. The Airport And One Of The Hotels Are Leased To The Brazilian Navy, But The Company Is Trying To Sell The Other Hotel And Sell Or Donate The Cinema To End Maintenance Expenses.
In The Paulo Afonso Complex (BA), The Hospital Built To Support The Works Has Been Assigned To Univasf And Will Be A University Hospital Under The Management Of Ebserh, Reducing Care Obligations Outside The Core Business. It Is The Conversion Of A Historical Liability Into A Public Benefit.
What Has Already Been Sold: Thermoelectric Plants And The Strategy With Âmbar Energia
On June 10, 2024, Eletrobras Signed An Agreement To Sell Its Thermoelectric Portfolio To Âmbar Energia (J&F) For R$ 4.7 Billion, With R$ 1.2 Billion In Earn-Out And About 2 GW Of Installed Capacity. The Deal Transfers The Credit Risk Of The Contracts To The Buyer And Supports The Goal Of Decarbonization By 2030.
The Partial Transfer Of The Assets Began On May 15, 2025, With Closing Steps By Plant. The Thermoelectric Plant Santa Cruz (500 MW), In RJ, Is Still Conditioned To Regulatory Approvals, Which Maintains A Staggered Closing Schedule.
There Are Specific Challenges: A Resource In Aneel Questions The Sale Of The Plants Mauá 3 And Aparecida, In Amazonas, Without Suspensive Effect Thus Far. The Merits Are Still Being Analyzed, But The Process Has Not Prevented Partial Closures.
Next Steps: Divestments, Governance, And Focus On The Core
Management Indicates More Divestments In Non-Essential Assets And Reduction Of Minority Stakes. It Also Aims To Resolve Old Issues, Such As The Involvement In The Angra 3 Project, Following An Agreement With The Government That Redefined Board Representation And Brought Predictability.
In April 2025, The Company Reported Having Sufficient Votes To Approve The Governance Arrangement That Allows The Government To Appoint Three Of The Ten Directors, Without Breaking The Logic Of Dispersed Capital Post-Privatization. The Goal Is To Reduce Litigation And Free Up Agenda For Efficiency.
On The Divestiture Front, Eletrobras Hired Advisors To Sell Its Remaining Stake In Eletronuclear, Reinforcing Its Focus On Renewable Generation And High-Voltage Transmission, Areas Where It Has Scale And Expertise.
And You, What Do You Think? Should Eletrobras Sell These Cultural Assets, Such As The Cinema, Or Donate Them To The Local Community? Is This Business Efficiency Or Loss Of Historical Heritage? Leave Your Comment And Tell Us What You Consider To Be The Most Appropriate Destination For These Assets.

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