 | |
| Company type | Public |
|---|---|
| B3: ELET3,ELET5,ELET6 Nasdaq: EBR BMAD: XELTB | |
| Industry | Electricity |
| Founded | 11 June 1962; 63 years ago (1962-06-11) |
| Headquarters | , Brazil |
Key people | Wilson Ferreira Júnior (CEO)[1][2] |
| Products | Electrical power |
| Services | Electricity distribution Electric power transmission Electric power generation |
| Revenue |  R$44.4 billion(2021)[3] |
| R$10.9 billion(2021)[3] | |
 R$5.7 billion(2021)[3][4] | |
| Owner | Brazilian Government (46.63%)[5] |
Number of employees | 12,018(2021)[3] |
| Website | eletrobras.com |
Centrais Elétricas Brasileiras S.A. (commonly referred to asElectrobras,Portuguese pronunciation:[eˌlɛtɾoˈbɾas]) is a majorBrazilian electric utilities company. The company's headquarters are located inRio de Janeiro.
It isLatin America's biggest power utility company, tenth largest in the world, and is also the fourth largest clean energy company in the world.[citation needed] Eletrobras holds stakes in a number of Brazilian electric companies, so that it generates about 40% and transmits 69% of Brazil's electric supply. The company's generating capacity is about 51,000 MW, mostly in hydroelectric plants. The Brazilian federal government owned 52% stake in Eletrobras until June 2022, the rest of the shares traded onB3. The stock is part of theIbovespa index. It is also traded on theNasdaq Stock Market and on theMadrid Stock Exchange.
Eletrobras was established in 1962 duringJoão Goulart's presidency.
Eletrobras is an electric power holding company. It is the largest generation and transmission company in Brazil. Through its subsidiaries it owns about 40% of Brazil's generation capacities and controls 69% of the National Interconnected System.[6]
Eletrobras stands as the biggest company of the electric power sector inLatin America.
Among Eletrobras' subsidiaries, there are generation and transmission companies.
| |
| Company type | Private, subsidiary of Eletrobras |
|---|---|
| Industry | Power generation |
| Founded | 1973; 52 years ago (1973) |
| Headquarters | , |
| Products | Electrical power |
| Services | Electricity distribution |
Number of employees | 3,655 |
| Website | www |
Eletronorte (Centrais Elétricas do Norte do Brasil S.A.) is responsible for the power generation, transmission and distribution in the states ofAmazonas,Pará,Acre,Rondônia,Roraima,Amapá,Tocantins andMato Grosso.
| |
| Company type | Subsidiary |
|---|---|
| Industry | Private equity |
| Founded | 1995; 30 years ago (1995) |
| Headquarters | Rio de Janeiro,Brazil |
| Revenue | US$ 98.0 Million (2010) |
| US$ 13.6 Million (2010) | |
| Total assets | US$ 152.4 Million (2011) |
Number of employees | 230 |
| Website | www.eletrobraspar.com |
Eletrobras Eletropar acts in participations of other energy companies.
| |
| Company type | Subsidiary |
|---|---|
| Industry | Utilities |
| Founded | 1948; 77 years ago (1948) |
| Headquarters | Recife,Brazil |
Key people | Fabio Lopes Alves (CEO)[8][9] |
| Products | Electricity generation |
Number of employees | 4,427 |
| Parent | Eletrobras |
| Website | www.chesf.com.br |
CHESF (CompanhiaHidro-Elétrica doSãoFrancisco; São Francisco's Hydroelectric Company) generates and transmitselectric power fromhydroelectric plants to all of the cities in northeast ofBrazil. It owns 14 hydroelectric energy plants and 1 thermoelectric energy plant.[10] Sinval Zaidan Gama was made CEO in January 2017.[11]
The main source of energy is theSão Francisco River.
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Electricity |
| Founded | 26 December 1996 (1996-12-26)[12] |
| Defunct | 2 January 2020 (2020-01-02)[12] |
| Headquarters | , |
| Parent | Eletrobras |
| Divisions | CGT Eletrosul |
| Website | cgteletrosul.com.br |
Eletrobras CGTEE was a Brazilian power company[12] created on 11 July 1997. It is active in the state ofRio Grande do Sul.[13]
Eletrobras Eletronuclear
Eletrobras Eletrosul
Eletrobras was authorized by Act 11.651, sanctioned on 7 April 2008, to operate abroad as an investor in the power sector, by means of consortiums and/or specific purposes companies; it may also have control on enterprises. In order to coordinate this operation, it was created the Superintendence of Operations Abroad, which will operate following the guidelines of its board of directors.
For this first period, the Superintendence of Operations Abroad has set forth the priorities as follows:
The Superintendence of Operations Abroad has been developing negotiations with several countries inLatin America and Africa:
WithBolivia,Colombia, China,Ecuador,El Salvador,Guinea Bissau,Guyana,Morocco andNigeria the contacts are in their initial phase.
| Took office in | CEO | # |
| 1962 | Paulo Richer | 1º |
| 1964 | José Varonil de Albuquerque Lima | 2º |
| 1964 | Octavio Marcondes Ferraz | 3º |
| 1967 | Mario Penna Bhering | 4º |
| 1975 | Antonio Carlos Magalhães | 5º |
| 1978 | Arnaldo Rodrigues Barbalho | 6º |
| 1979 | Maurício Schulman | 7º |
| 1980 | José Costa Cavalcanti | 8º |
| 1985 | Mario Penna Bhering | 9º |
| 1990 | José Maria Siqueira de Barros | 10º |
| 1992 | Eliseu Resende | 11º |
| 1993 | José Luis Alquéres | 12º |
| 1995 | Mario Fernando de Melo Santos | 13º |
| 1995 | Antônio José Imbassahy da Silva | 14º |
| 1996 | Firmino Ferreira Sampaio Neto | 15º |
| 2001 | Cláudio Ávila da Silva | 16º |
| 2002 | Altino Ventura Filho | 17º |
| 2003 | Luiz Pinguelli Rosa | 18º |
| 2004 | Silas Rondeau Cavalcanti Silva | 19º |
| 2005 | Aloísio Marcos Vasconcelos Novais | 20º |
| 2006 | Valter Luiz Cardeal de Souza | 21º |
| 2008 | José Antonio Muniz Lopes | 22º |
| 2010 | José da Costa Carvalho Neto | 23º |
| 2016 | Wilson Ferreira Júnior | 24º |
| 2020 | Rodrigo Limp | 25º |
| 2022 | Wilson Ferreira Júnior | 26º |
In May 2021, theCâmara dos Deputados approved aProvisional Measure (MP), sent by theBolsonaro Government, that foresees the privatization of Eletrobras. The process would take place through the sale of newordinary shares on theB3 Stock Exchange, which in practice would decrease the shareholding interest of thegovernment and theBrazilian Development Bank (BNDES) to about 45%, with more papers offered to private investors. Where each shareholder, individually, could not hold more than 10% of the voting capital of the company. TheGovernment would maintain a special class of share (golden share) that grants itveto power in decisions of the shareholders' meeting.[14] The MP was approved in the Senate Plenary, on 17 June 2021, with the presentation of three different opinions by the rapporteur, SenatorMarcos Rogério (DEM-RO). The dispute was reflected in the result of the vote: the MP received 42 votes in favor and 37 against.[15][16]
Privatization advocates argue that once privatized the company would increase its investment capacity.[17] However it was criticized by other sectors of society, such as the Union Movement for Energy,Instituto de Energia e Meio Ambiente (IEMA), and theFederação das Indústrias do Estado de São Paulo (FIESP), fearing that the project could lead to increased tariffs for consumers and cause environmental damage.[18][19] The main concerns about the privatization were amendments requiring the contracting ofthermoelectric plants powered bynatural gas and the authorization to build theTucuruí transmission line without the need forenvironmental permits from theInstituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis (IBAMA) and theFundação Nacional do Índio (FUNAI).[20]
The final version of the project was approved on 21 June 2021. The final proposal extends contracts of thePROINFA for 20 years, provides for the construction ofSHPs, and forbids, for ten years, that subsidiaries of Eletrobras are extinguished. The MP also determines revitalization projects in theBacia do rio São Francisco, theFurnas reservoirs, in theAmazonia,Madeira River andTocantins River. Also,Eletronuclear, responsible for theUsina Nuclear de Angra, and the Brazilian participation in theItaipu Dam will be dismembered from Eletrobras and kept under state control.[21][22]
In July 2021, Bolsonaro sanctioned the Provisional Measure for the privatization of Eletrobras. According to government accounts the privatization would reduce the electricity bill by about 7.36%.[23] On the other hand, entities in the sector said that the electricity bill will become more expensive with the privatization.[24]
The focus of the privatization is to sell shares until the government ceases to own 60% of the shares and owns 45% of the company, thus losing the majority stake in the company.[25]
In September 2021, theEmpresa Brasileira de Participações em Energia Nuclear e Binacional (ENBPar) was created, with the objective of taking over Eletrobras activities that cannot be privatized, such as the Itaipu Binacional and Eletronuclear companies (Angra 1, 2 and 3 plants) and the management of public policies, under law 14.182/2021.[26]
On 14 June 2022, 802.1 million shares were sold, with a base price ofR$42 (US$8.56), in an operation that movedR$33.7 billion (US$6.9 billion).[27] With this, the Union's stake in the voting capital of the state company was reduced from 68.6% to 40.3%.[28]
Major shareholders includeGIC Private Limited, theCanada Pension Plan Investment Board (CPPIB), and the Brazilian manager 3G Radar, linked to3G Capital.[28]
Employees and retirees of Eletrobras and its subsidiaries had priority to acquire up to 10% of the total shares offered.[29] It was also authorized that workers could buy company shares using up to 50% of the balance of theFGTS.[29]
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