Empresa Energetica do Estado do Mato Grosso do Sul (Enersul)

Active

Prospective

Enersul is a company that generates, transmits, and distributes energy in the Brazilian state of Mato Grosso do Sul. The company served 72 of the 77 municipalities in Mato Grosso do Sul covering 330,000 square km (92% of the state). In its concession area, Enersul had 467,471 customers for a total population of about 2 million in 1996. The company was partially privatized in November 1997 when the state government sold a 55.36% equity stake (77% of the voting capital) for $565 million to Espirito Santo Centrais Eletricas SA (Escelsa), the integrated electric utility that serves the state of Espirito Santo. Escelsa itself was partially privatized in July 1995 when 50% plus one share of the company was bought by Iven Group. Initially Iven Group was integrated by Aphelion (18%), Opportunity (16%), Icatu (16%), Banco Pactual (13%), Centrus (13%), Citibank (13%), and Banco Nacional (13%). In August 1999, Electricidade de Portugal (EdP) bought 49% of Iven Group; the remaining 51% was equally owned by Opportunity and Citibank. In 1999, Escelsa increased its participation in Enersul to 65% (87.8% of the voting capital). As of July 2002, EdP participation in Iven Group had increased to 73.12% and the participation of other private investors in Enersul had increased to 15%. In October 2002, EdP took control of Escelsa, which in turn controls 65% of Enersul. In December 2003, after finalizing the first stage of a major corporate reestructuring, EdP has included Enersul in the holding EdP Brasil, one of its subsidiaries. As of December 2003, other private investors had increased their participation in Enersul to 20% and Escelsa, controlled by EdP, remained the owner of a 65% stake (87.8% of the voting capital). Electricity consumption increased from 2,647,524 MWh in 2001 to 2,728,500 MWh in 2002 with the end of electricity rationing program in February. Enersul received a loan of US$ 28.5 million (R$ 101 million) from BNDES (the Brazilian bank for development) in 2002 to compensate the losses incurred by the company during the implementation of the ration program. In August 2008, Electricidade de Portugal SA's subsidiary Energias do Brasil, former 100% shareholder of Enersul, exhanged full ownership of Enersul with Rede Energia S.A. for the equity interests in the companies Lajeado Energia S.A. (former Rede Lajeado Energia S.A.) and Investco S.A.(Investco), as well as by Rede Power do Brasil S.A., of the respective equity interests in the companies Lajeado Energia S.A. and Tocantins Energia S.A. In April 2014, Energisa acquired Rede Energia S.A., and Enersul's name was changed to Energisa Mato Grosso do Sul.

Energy

World Bank Group

Project

Hydro, Power Generation (CCGT), Power Transmission, Government, Commercial