Roundup: Phoenix wins EMAE privatization auction, Petrobras signs new MOUs and more

Privatization

The Phoenix fund won the privatization auction of Brazilian hydropower company Empresa Metropolitana de Águas e Energia (EMAE) in a transaction worth more than 1.04bn reais (US$200mn).

The offer submitted by the fund beat bids from EDF and Matrix Energia.

Solar power 1

Raízen has signed a deal with Infraestrutura Brasil Holding 32, part of the Pátria Investimentos group, for the sale of 31 distributed solar generation projects with total installed capacity of up to 115MWp. 

The value of the deal is approximately 700mn reais, to be paid as the projects are developed and built by Raízen and transferred to the buyer by December 2025.

Solar power 2

Energytech Bow-e, part of the Bolt Energy group, is expanding into the state of Mato Grosso. 

The aim is to supply solar energy to small and medium-sized businesses and homes in the region, where it expects to have more than 8,000 consumers by the end of this year. 

The investment in the initiative is in the region of 65mn reais, including the construction of a plant in partnership with Enerzee.

Distribution concessions

The uncertainties regarding the guidelines of the new contracts for power distribution concessions, as well as the uncertainties over the adhesion of the current concessionaires to the renewal of these contracts, do not impact, for the time being, the credit profiles of the companies evaluated by Fitch Ratings. 

The rating agency believes that these groups have the liquidity and/or proven financial flexibility to honor the debts due until the renewals are completed. 

So far, Fitch has not revised the assumptions of its base scenario, which considers renewal for all the concessions involved in the process.

Renewable energy partnership

Octopus Energy has partnered with Energisa to deploy cheap, green renewables at scale across Brazil. 

The companies will work together to optimize the management of Energisa’s batteries as well as solar farms, unlocking efficiencies whilst delivering greatly better service to customers, Octopus said in a statement.

As a final step, they will assess the viability of potential joint ventures for Brazil which may include launching an energy retail business, bringing Octopus’ EV charging roaming services to the country and exploring different flexibility market models the statement added.

Shipbuilding

Brazil’s petroleum institute IBP and Petrobras, with the support of the local shipbuilding industry labor union Sinaval, have launched the Map of Shipyards in Brazil, designed to make information on the infrastructure of shipyards and projects in the country accessible and available to the market. 

Petrobras' strategic plan includes the construction of a series of FPSOs. The federal oil company's asset revitalization plan will focus on 23 platforms and a further 40 to be dismantled. 

The company plans to order 200 support vessels to increase its fleet from 2028. Up to 38 more modern maritime support vessels are to be built, with hybrid propulsion and reduced emissions. 

Petrobras MOUs 

Petrobras has signed new memorandums of understanding with BP and China National Chemical Energy Company (CNCEC).

The agreement with the British company provides for cooperation in sustainable fuel projects, carbon credits, biorefining and exploration and production. 

With the Chinese company, the aim is to develop projects in renewable energies and energy transition.

The partnership with CNCEC also provides for the assessment of potential commercial agreements in the areas of oil exploration; fertilizer production from natural gas and other sources; production development; refining; biorefining and petrochemicals; engineering, construction and services; as well as research, development and innovation.

OceanPact

Offshore logistics and subsea service provider OceanPact has acquired a 20% stake in Atmosmarine, a privately held Brazilian company specializing in meteorology, oceanography, environmental monitoring and data analysis. 

The investment will enable OceanPact to expand its offer of solutions to the oil and gas sector.