ENGIE Brasil Energia has expanded its transmission capabilities through the acquisition of a 780 km lot in Brazil's energy market, reinforcing its focus on renewable energy and infrastructure development.

Target Information

ENGIE Brasil Energia has achieved an installed capacity of 11 GW and is expanding its transmission presence following its success in the ANEEL Transmission Auction 02/2024, where it acquired Lot 1. This new lot will cover approximately 780 km across the states of Santa Catarina, Paraná, São Paulo, Minas Gerais, and Espírito Santo. During Q3 2024, the company also saw the early commercial operation of 50 wind turbines from the Serra do Assuruá Wind Farm in Bahia, contributing to 27% of its total installed capacity.

In its financial results for Q3 2024, ENGIE Brasil Energia reported an adjusted EBITDA of approximately R$ 1.7 billion, reflecting a decrease of 5.8% compared to the same period last year. The adjusted net income for Q3 2024 was R$ 666 million, down 28.2% from Q3 2023. Key factors influencing these results included a partial divestment in TAG and increased costs for materials and third-party services, although these were mitigated by reduced energy purchase costs and favorable outcomes in short-term market operations.

Industry Overview in Brazil

The Brazilian energy market is prominently characterized by its reliance on renewable resources, particularly hydropower, wind energy, and solar power. With approximately 83% of the country's energy matrix being renewable, it is vital for Brazil to enhance its transmission