Eneva signs an agreement to acquire Celse for BRL 6,1 billion

Eneva, an integrated energy company, which operates from exploration and production (E&P) of natural gas to the supply of customized solutions, announces, this Tuesday (31/05), the acquisition offer of Centrais Elétricas de Sergipe Participações SA (CELSEPAR), presented to New Fortress Energy (NFE) and Ebrasil Energia Ltda. Under the negotiated agreement, Eneva will acquire 100% of the shareholdings of Usina de Porto de Sergipe for R$ 6,1 billion (about US$ 1,27 billion).

Located on the coast of Sergipe, in Barra dos Coqueiros, the Celse 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 fundamental role in energy security in the Northeast of the country, since its capacity is equivalent to 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 increasingly consolidate ourselves as one of the largest private energy suppliers to 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. In addition, it represents a fundamental step for the company to have its first gas hub infrastructure – in addition to exploration and generating units, having a gas pipeline and port that allow for the sale and flow of the product –, which contributes to the expansion of the company's business horizons.

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

As part of the transaction, Eneva agreed to acquire, directly and indirectly, 100% of the shares of Centrais Elétricas de Sergipe Participações SA, which owns 100% of the expansion rights of Usina Sergipe, 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% owned subsidiary of CELSEPAR, of R$4,1 billion. With the disbursed amount added to the debt, the value of the acquired company reaches R$ 10,2 billion.

Source: Eneva via FSB