According to the Brazilian Minister of Economy, the privatization of Eletrobras is close to being completed

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

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

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

If the action fails, the Angra 3 nuclear power plant project will be cancelled, according to BNDES statement.

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

Get to know the state-owned company and understand the need for privatization in Brazil

Largest company in the sector electric power from Latin America, Eletrobras is a publicly traded company, whose majority shareholder is the federal government. The group adopts strategies aimed at governance and compliance, operational excellence, financial discipline, sustainable performance 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 production company in Brazil, with a generating capacity equivalent to about 1/3 of the country's total installed capacity. In addition, more than 90% of our installed capacity comes from sources with low greenhouse gas emissions. The company also has planned investments of BRL 19,756 billion between 2018 and 2022.

Since 2017, the subject of the privatization of Eletrobras has been circulating in the news. At that time, the Temer administration started official debates on the privatization of the company in the National Congress, even proposing a Bill (PL) for this. In this sense, since 2019, the Bolsonaro government has also sought to approve a new privatization project for Eletrobras.

The government of Brazil claims that privatization will bring benefits to the entire population and may lower the light bill of residential consumers as of this year, taking into account 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 services for 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 closed a deal for the supply of wind turbines and services in a deal that exceeds R$ 2 billion!
According to a statement from WEG last Friday (18/02), the contract between the companies provides for the supply of 72 wind turbines of 4,2 megawatts (MW), including logistics, assembly and commissioning, in addition to operating services and maintenance throughout the life of the project. To know more, enough click here on this link and read this CPG article in its entirety.