Neoenergia has agreed to sell half of its stake in the Itabapoana transmission project to Singapore’s GIC for R$127.5 million, subject to standard closing adjustments.
The transaction involves assets that will remain within the Neoenergia Transmission holding company—a 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 Neoenergia’s 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 projects—Vale Itajaí, Guanabara, Morro do Chapéu, and Alto Paranaíba. These will contribute about R$1 billion in additional annual permitted revenue (RAP).
In 2024, Neoenergia commissioned the Itabapoana, Estreito, and Paraíso projects, and brought key segments of Morro do Chapéu, Guanabara, and Vale do Itajaí 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.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
