The government of President Lula (PT) prepared a 15-year contract to purchase coal-fired energy from the J&F group, owned by brothers Joesley and Wesley Batista, for a price 50,2% above the average observed in auctions using the same fuel. This information was...published by Folha de SPthis Thursday (5).
The agreement stipulates an annual sales price of R$ 859,7 million until 2040, equivalent to more than R$ 12 billion in present value. The energy will be generated by the Candiota plant in Rio Grande do Sul, owned by Âmbar, a subsidiary of J&F.
The details of the contract were put out for public consultation last Friday (27) by the MME (Ministry of Mines and Energy) and are being analyzed by entities in the sector. The purchase became mandatory after the inclusion of a “jabuti” approved in about 18 seconds by the plenary sessions of the Chamber of Deputies and the Federal Senate at the end of last year.
The resulting law does not directly reference J&F, but it stipulates that coal-fired power plants with contracts valid on December 31, 2022, must be contracted until December 2040 – which, in practice, benefits the group's plant.
Lula had the prerogative to veto the section, but chose to approve it, a decision that contradicted his own speech against fossil fuels at COP30 and the position of Minister Marina Silva (Environment), who recommended the veto. As a result, the contract was converted into law in November of last year.
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