Engie Brasil closes sale of Jorge Lacerda thermoelectric complex to Fram Capital – Money Times

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The French subsidiary Engie highlighted that the sale of the asset is important for the company’s decarbonization process (Image: REUTERS/Charles Platiau)

the electric Engie Brazil (EGIE3) Energia signed this Monday a contract for the sale of the Jorge Lacerda thermoelectric complex to Diamante Holding, a subsidiary of Fram Capital, for up to 325 million reais, reported the company in relevant fact.

According to Engie, 210 million reais will be paid at the end of the transaction and up to 115 million reais are subject to compliance with certain contractually stipulated conditions.

The Jorge Lacerda complex is made up of a group of thermoelectric power plants at mineral coal, with a total installed capacity of 857 megawatts (MW), located in Capivari de Baixo (SC).

The subsidiary of French Engie highlighted that the sale of the asset is important for the company’s decarbonization process.

“The sale of CTJL will allow a gradual transition to economy from the southern region of the State of Santa Catarina, reducing the potential socioeconomic impacts in relation to the decommissioning process”, said in a note the CEO of Engie, Eduardo Sattamini.

Currently, approximately 90% of Engie’s matrix in Brazil is renewable, coming from hydroelectric, wind, solar and biomass generation sources, the company said.

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