Matrix Energia confirmed that it has closed a deal with Energisa for the sale of five of its own distributed generation (DG) photovoltaic plants. The assets total 26,75 MWp of installed capacity.
The deal was submitted to CADE (Administrative Council for Economic Defense) for review. The value and payment terms were not disclosed.
The projects are located in Mato Grosso and Mato Grosso do Sul, states served by distributors of the Energisa Group. According to information presented to Cade (Brazil's antitrust authority), the operation involves the Água Boa, Feliz Natal, Vera, Naviraí, and Nova Mutum power plants.
The acquisition will be carried out through (re)energisa, the group's arm focused on energy solutions. The company already operates 126 distributed generation solar plants, with 473 MWp of installed capacity.
The operation is progressing while Matrix undergoes a financial restructuring process. The company has hired the consulting firm Alvarez & Marsal to support the review of its businesses and seeks to reduce its exposure to its own assets.
At the end of 2025, Matrix recorded gross debt of R$1,15 billion, compared to R$825,1 million in the previous year, according to the company's financial statements, to which the Canal Solar had access.
In July, the company's CEO, Wilson Ferreira Jr., denied that Matrix was preparing to file for bankruptcy protection. According to the executive, shareholders Prisma Capital and Duferco invested R$ 200 million in the company between January and February. This information was published by [source name missing]. Brazil Journal.
Negotiations with Topen were not concluded.
The sale to Energisa comes after Matrix failed to complete a larger deal with Topen.
In October 2025, the companies announced a R$ 556 million agreement involving solar assets totaling 120 MWp. The transfer would be carried out in stages and depended on the fulfillment of conditions stipulated in the contract, including the presentation of guarantees for the assumption of financing.
The transfer of all assets did not go through. According to Wilson Ferreira Jr., Topen managed to acquire just over 30 MW. The agreement was terminated with respect to the remaining plants because the buyer did not provide the necessary guarantees, as reported in the media.
Matrix's financial statements show that eight assets were effectively transferred to Topen in December 2025. However, the Pontal-Topen Group filed for bankruptcy protection on August 7 of this year, declaring liabilities of R$ 4,56 billion.
In a note to the Canal Solar, Matrix reported that it owns 21 solar power plants. With the completion of the sale to Energisa, the portfolio will be reduced to 16 projects, totaling 67,7 MWp.
The company said it continues to evaluate alternatives for selling its remaining assets. The strategy is to consolidate an asset-light model in distributed generation.
"Matrix continues to evaluate opportunities and alternatives for the sale of its remaining assets, in line with its strategy of consolidating an asset-light model in Distributed Generation. The Company will continue to operate in this segment, offering solutions focused on the management of third-party power plants and the efficient allocation of energy resources," it wrote.
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