R$ 2.1 Billion Approved By BNDES For Equatorial Energia's Investment Plan In The States of Maranhão and Pará

R$ 2.1 Billion Approved By BNDES For Equatorial Energia’s Investment Plan In The States of Maranhão and Pará

Written by Roberta Souza

Published on 04/01/2021 at 17:41

Equatorial Energia

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The Financing Released to Equatorial Energia by BNDES Will Be for Equatorial Maranhão Distribution Company and Equatorial Pará

The National Bank for Economic and Social Development – BNDES, approved the financing requested by Equatorial Energia, in the amount of R$ 2.25 billion. The investment will be allocated to the investment plan for the years 2021 to 2023, for the subsidiaries Equatorial Maranhão Distribution Company and Equatorial Pará Distribution Company.

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The amount of financing released by BNDES will be R$ 750.8 million for the Maranhão subsidiary and R$ 1.4 billion for Pará. The grace period will last until December 2023, with a total term of 20 years at a cost of IPCA + 4.08% per annum.

Equatorial Energia stated in a note sent to the Securities and Exchange Commission (CVM) that “The next three years of the companies’ investments are backed by financing approved by the bank.”

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The financing will be used for the expansion of the distribution system, combating energy losses, improving supply quality, expanding the customer base, and enhancing the operation of the electric power system.

About Equatorial Energia:

Equatorial Energia is a holding company that controls the energy distribution companies Equatorial Energia Alagoas (Alagoas), Cemar (Maranhão), Celpa (Pará), and Cepisa (Piauí). In addition, it holds a significant stake in the Geramar Thermal Power Plant.

The company was established under the name Brisk Participações S.A. “Company” and was incorporated on June 16, 1999, by PPL Global LLC., initially to participate in the privatization auction of the Maranhão Energy Company-CEMAR, which was privatized on June 15, 2000, as a result of the then National Privatization Program, also known by the acronym “PND,” implemented by the Brazilian government starting from the administrations of Itamar Franco and Fernando Henrique Cardoso.

R$ 2.1 Billion Approved By BNDES For Equatorial Energia’s Investment Plan In The States of Maranhão and Pará

The Financing Released to Equatorial Energia by BNDES Will Be for Equatorial Maranhão Distribution Company and Equatorial Pará

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R$ 2.1 Billion Approved By BNDES For Equatorial Energia’s Investment Plan In The States of Maranhão and Pará

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