Eletrobras: Privatization Of The State Company Should Take Place In The Coming Weeks And Will Bring Benefits To The Citizens Of Brazil

According to the Minister of Economy of Brazil, the privatization of Eletrobras is Close to Being Finalized

On Monday, April 11, 2022, Minister of Economy Paulo Guedes revealed during an event that the privatization of Eletrobras is being finalized and should occur within two to four weeks. Thus, it is likely that the privatization process of Brazil’s state-owned Eletrobras will conclude next month. 

According to Época Negócios, although the action still depends on the approval of the Federal Court of Accounts (TCU), Paulo Guedes expressed his expectation that the rapporteur of the process will conclude the privatization report of Eletrobras as soon as possible. 

In this regard, the Minister of Economy added: “The TCU has worked with us for 2 years on all the problems that could exist. The future of Brazilian energy depends on this,” highlighting the importance of Eletrobras’s privatization for Brazil. 

If the action does not materialize, the nuclear power plant project of Angra 3 will be canceled, according to a statement from BNDES.

Previously, Paulo Guedes had already stated that the privatization of Eletrobras is essential for the country to achieve Brazilian energy independence. Check it out:

Get to Know the State-Owned Company and Understand the Need for Privatization in Brazil

The largest electricity power company in Latin America, Eletrobras is a publicly traded company, with the federal government as the majority shareholder. The group adopts strategies focused on governance and compliance, operational excellence, financial discipline, sustainable action, and valuing people, and through its companies and our research development center, Eletrobras is present in all regions of Brazil.

Eletrobras stands out as the largest electricity producer in Brazil, with a generating capacity equivalent to about 1/3 of the total installed capacity of the country. In addition, more than 90% of our installed capacity comes from low greenhouse gas emission sources. The company also has planned investments of R$ 19.756 billion between 2018 and 2022.

Since 2017, the subject of Eletrobras’s privatization has been in the news. At that time, the Temer administration began official discussions on the company’s privatization in the National Congress, having proposed a Bill (PL) for this purpose. In this sense, since 2019, the Bolsonaro government has been seeking to approve a new privatization project for Eletrobras.

The government of Brazil claims that privatization will be responsible for bringing benefits to the entire population and can reduce electricity bills for residential consumers starting this year, considering that the sector will become more competitive.

WEG Closes Billion-Dollar Contract with Eletrobras to Manufacture 72 Turbines of 4.2 Megawatts, Including Logistics, Assembly, Commissioning, Operation, and Maintenance of the CGT Wind Farm in Rio Grande do Sul

Billion-dollar partnership between WEG, one of the largest manufacturers of turbines and electric motors in the world, and Eletrosul, a subsidiary of Eletrobras. The companies finalized a deal for the supply of wind turbines and services in a deal that exceeds R$ 2 billion!
According to the statement from WEG last Friday (02/18), the contract between the companies includes the supply of 72 wind turbines of 4.2 megawatts (MW), including logistics, assembly, and commissioning, as well as operation and maintenance services throughout the project’s lifespan. To learn more, just click here on this link to read the full article from CPG in its entirety.