Engie Participações (controlling company) has expressed its intention to transfer its entire stake in the Jirau Hydroelectric Power Plant, equivalent to 40% of the company's share capital, to Engie Brasil Energia (subsidiary).
In a relevant fact disclosed last Friday (12), Engie Brasil informed that the Board of Directors authorized the adoption of the necessary measures for carrying out studies and feasibility analyses of the operation.
The Jirau Hydroelectric Power Plant is the fourth largest hydroelectric plant in Brazil in terms of installed capacity, with 3.750 MW. The project is located on the Madeira River, about 120 kilometers from Porto Velho, in Rondônia.
Currently, Jirau's share capital is divided between Engie (40%), Eletrobras (40%) and Mizha Participações, a subsidiary of the Japanese group Mitsui.
To ensure the robustness and independence of the process, the Board of Directors determined the creation of an Independent Special Committee, responsible for advising the company on analyses and recommendations regarding possible structures for the implementation of the operation.
A Engie Brasil He emphasized that the potential transfer of control is still under evaluation and does not, at this time, represent a commitment or guarantee of completion of the transaction.
Engie Brasil buys two hydroelectric plants for R$2,95 billion
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