Eneva announces incorporation of Focus Energia for R$ 960 million

Eneva announced this Wednesday (15) a business combination with Focus Energia. Currently, Focus Energia operates in three business lines: Electricity Trading, Generation and Distributed Generation.

O investment of BRL 960 million will allow the company to diversify energy sources and business models, in line with its growth strategy to lead a fair and inclusive energy transition, with cleaner, more economical and efficient energy.

With the transaction, Eneva incorporates the company and assumes the operational assets, portfolio of contracts and customers, in addition to the company's entire portfolio of projects, which total 3,7 GWp of installed power.

The generation portfolio consists of two operational assets and a centralized and distributed generation pipeline, located in three states: Minas Gerais, Bahia and Rio Grande do Sul.

Among the projects is Parque Futura 1, 2 and 3 (BA). When commissioned, Futura 1 will be the largest solar complex in Brazil, with an installed capacity of 670 MW.

“When evaluating the transaction, we identified it as a good opportunity to obtain an attractive return and at the same time promote a combination of complementary business lines, such as the pipeline of renewable projects and the company's expertise in the commercialization of electrical energy, with access to a large base from clients. We believe that, with the incorporation, we have an opportunity to bring an asset that will accelerate the implementation of Eneva's strategy as an integrated energy solutions player”, highlighted Pedro Zinner, CEO of Eneva.

The executive also emphasized that the transaction considered the potential for structuring new generation projects, aiming to facilitate investments in renewable source assets, mainly solar, which is considered one of the main fronts for energy growth in the next decade.

“Our objective is to contribute to the country’s development through energy that creates value for all our stakeholders. To prove our pioneering spirit, we remember that Eneva's Tauá (CE) solar plant was the first from the source to enter commercial operation in Brazil and now, 10 years later, we are back with another emblematic project, which will be the largest solar complex in the country. With this operation, we want to further diversify our portfolio of solutions by balancing our contract portfolio, attracting new investors to the shareholder base and increasing access to new sources of financing (greenbonds) in addition to seeking opportunities in new frontiers, such as green hydrogen in the future”, explained Zinner.

Focus began operations as an energy trader in 2015 and earlier this year made its IPO to finance its pipeline of renewable projects. The acquisition of the company by Eneva should accelerate the progress of the projects, which are strong candidates to keep up with the growth of the renewable energy market, expected to grow by more than 170% by 2030.

The merger will now be voted on at the General Meeting of both companies and the operation will be submitted to CADE.