Neoenergia has agreed to sell half of its stake in the Itabapoana transmission project to Singaporeโs GIC for R$127.5 million, subject to standard closing adjustments.
The transaction involves assets that will remain within the Neoenergia Transmission holding companyโa dedicated investment platform in which GIC already owns a 50% stake, following a deal signed in April 2023. After this latest transaction, the ownership structure remains unchanged: 50% held by Neoenergia and 50% by GIC.
This move is part of Neoenergiaโs ongoing strategy to rotate assets and capitalise on the most promising market opportunities. It also builds on a growing partnership with GIC, supporting both companies’ long-term investment plans in the power transmission sector.
Neoenergia is nearing the end of its current investment cycle in transmission. By late 2025, it expects to complete construction and begin operations on its remaining four projectsโVale Itajaรญ, Guanabara, Morro do Chapรฉu, and Alto Paranaรญba. These will contribute about R$1 billion in additional annual permitted revenue (RAP).
In 2024, Neoenergia commissioned the Itabapoana, Estreito, and Paraรญso projects, and brought key segments of Morro do Chapรฉu, Guanabara, and Vale do Itajaรญ online. These efforts generated an estimated R$300 million in new annual revenue and helped release R$1 billion over the course of the year.
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