Eneva Finalizes Agreement to Acquire One of the Largest Thermoelectric Plants in Latin America in the State of Sergipe

Eneva Closes Deal to Acquire Celse for R$ 6.1 Billion

Eneva, an integrated energy company engaged in the exploration and production (E&P) of natural gas and the provision of customized solutions, announced on Tuesday (05/31) the offer to acquire Centrais Elétricas de Sergipe Participações S.A (CELSEPAR), presented to New Fortress Energy (NFE) and Ebrasil Energia Ltda. Under the negotiated agreement, Eneva will acquire 100% of the shareholdings in the Porto de Sergipe power plant for R$ 6.1 billion (approximately US$ 1.27 billion).

Located on the coast of Sergipe, in Barra dos Coqueiros, Celse’s thermoelectric plant has a capacity of 1.6 GW and is one of the largest gas plants in operation in Latin America. The plant plays a key role in the energy security of the Northeast region of the country, as its capacity accounts for 15% of the region’s energy demand. The unit is fully contracted in the regulated environment until December 2044.

“The acquisition of Celse is a strategic move for Eneva to leverage competencies and further diversify our business model in line with our strategic ambitions for 2030.

In this way, we are increasingly consolidating as one of the largest private energy suppliers in the country and as a key player in the Brazilian energy transition,” said Pedro Zinner, CEO of Eneva.

The combination of Eneva’s assets, after this acquisition, will result in approximately 6 GW of installed capacity. Moreover, it represents a fundamental step for the company to have its first gas hub infrastructure – in addition to exploration and generating units, to have pipelines and ports that allow for the commercialization and export of the product – which helps to broaden the company’s business horizons.

The acquisition also guarantees Eneva access to imported gas and infrastructure with idle capacity that allows for a flexible and reliable management of supply, further contributing to the expansion of its product commercialization segment.

As part of the transaction, Eneva agreed to acquire, directly and indirectly, 100% of the shares of Centrais Elétricas de Sergipe Participações S.A., which holds 100% of the expansion rights of the Sergipe power plant, with an additional pipeline of 3.2 GW of expansion projects.

Under the terms of the transaction, Eneva will assume the current debt of Centrais Elétricas de Sergipe (“CELSE”), a 100% subsidiary of CELSEPAR, amounting to R$ 4.1 billion. With the amount disbursed added to the debt, the value of the acquired company reaches R$ 10.2 billion.

Source: Eneva via FSB