Snapshot: Eletrobras’ investments
Brazilian electric power holding Eletrobras invested an average of 1.5bn reais (US$310mn) per quarter since its privatization in June 2022, according to BNamericas research.
The highest realized capex was registered in the third quarter of 2023: 1.86bn reais, up 34% from the previous three-month period and 90% year-over-year.
| Quarter | Investment (reais) | Net profit or loss (reais) |
| 3Q22 | 991,000,000 | -90,000,000 |
| 4Q22 | 1,597,000,000 | -479,000,000 |
| 1Q23 | 1,597,000,000 | 406,000,000 |
| 2Q23 | 1,388,000,000 | 1,619,000,000 |
| 3Q23 | 1,864,000,000 | 1,477,000,000 |
Source: BNamericas based on Eletrobras' data
Power generation investments since January focused on the implementation of materials for the Coxilha Negra wind farm (465mn reais), the Santa Cruz thermal power plant (183mn reais) and the Casa Nova A and B wind farms (31mn reais).
In the maintenance area, the highlights were 458mn reais invested in the Paulo Afonso IV and Sobradinho hydroelectric plants, as well as contributions to the Tucuruí and Furnas hydroelectric plants and the Mauá 3 and Serra da Mesa thermal plants.
Also in the first nine months of 2023, Eletrobras made the following power transmission investments through its subsidiaries:
– Chesf: 805mn reais in reinforcements, improvements and maintenance due to the modernization of substations (260mn reais) and transmission line improvements (64mn reais);
– Furnas: 672mn reais, with emphasis on the Itumbiara substation;
– Eletronorte: 382mn reais in reinforcements and maintenance;
– CGT Eletrosul: 152mn reais in various reinforcement, improvement and maintenance projects.
Eletrobras plans to invest 70-80bn reais in the 2023-27 period.
During a conference call with investors on Wednesday, CEO Ivan Monteiro said Eletrobras is accelerating investments in its portfolio of existing assets, especially in transmission, and will not prioritize major acquisitions at the moment.
He also said that the company is preparing to take part in the next transmission tender scheduled for December.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
Subscribe to Latin America’s most trusted business intelligence platform.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
