Araucaria Gas-Fired Power Plant Privatization

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This project involves the partial privatization of the Petrobras' shares in the Usina Elétrica a Gás de Araucária, a joint venture with the Copel Group, operating the Araucária gas-fired power plant, located in the state of Parana, Brazil. The Petrobras' stake is 18.8% and Copel's stake is 81.2%. The buyer is the Brazilian company Ambar Energia which acquired 100% of the shares. The total capacity of this combined-cycle gas-fired is 484 MW. The price paid for the 18.8% stake in the power plant is $15m (R$75m). The financial close date is October 27th, 2023. The conclusion of the process is attributed to Petrobras' partners in UEGA, namely COPEL and COPEL GET, who have executed a Share Purchase Agreement (SPA) with Ambar Energia S.A. for the acquisition of their individual shareholdings. Consequently, this has led to the joint decision to terminate the previously signed Joint Sale Agreement between these partners and Petrobras, which pertained to the divestment of the complete share capital of UEGA. https://www.ijglobal.com/articles/177765/copel-petrobras-sell-gas-fired-power-plant-in-brazil https://brazilenergyinsight.com/2023/12/15/petrobras-informs-about-sale-of-stake-in-electricity-company/ https://www.nasdaq.com/articles/brazils-ambar-energia-to-acquire-copels-majority-stake-in-gas-fired-power-plant