Brazil's Ambar Energia to acquire Copel's majority stake in gas-fired power plant

12/15/2023

(Reuters) - Brazilian energy firm Ambar Energia is set to buy electric utility Copel's 81.2% stake in natural gas-fired power plant UTE Araucaria for $65.24 MM, the firms said on Thursday.

The facility, located in the southern state of Parana, has an installed generation capacity of 484.15 megawatts (MW).

State-run oil firm Petrobras, which owns the remaining 18.8% stake in the power plant, can exercise its right to join in on the deal until Feb. 26, Ambar said in a statement.

After the deal, Ambar - owned by the J&F group, which also controls the world's largest meatpacker, JBS - will have a total generation capacity of 2.3 gigawatts (GW), it said.