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Board of Eletrobras approves sale of MTE [free access]

April 17, 2020

The board of directors of state-owned power company, Centrais Elétricas Brasileiras S.A. (Eletrobras), have approved the binding offer of Evoltz Participações for its 49.5 per cent stake in the special purpose entity (SPE) Manaus Transmissora de Energia (MTE), of BRL232 million.

 

MTE operates the 500 kV, 586 km Oriximiná–Silves–Lechuga line passing through the states of Amazonas and Pará, and two substations – 500/138 kV Silves and 500/230 kV Cariri. The project was awarded to the company during Auction No. 004/2008, and has been operational since March 2013.

 

Eletrobras owns a 49.5 per cent stake in SPE, with the rest owned by Sevilla Transmission Assessoria em Investimento Ltda. The deal requires approval from Agência Nacional de Energia Elétrica (ANEEL) and Brazil's national competition regulator Conselho Administrativo de Defesa Econômica (Cade).

 

Reportedly, the privatisation prospects of Eletrobras seem gloomy. However, as per the company’s senior officials, its privatisation could still happen in the second half of 2020.

 

(BRL1=USD0.19)