Petrobras Signs Contract for the Sale of Thermal Plants in Bahia

Source: 5/3/2021, Location: South America

Petrobras, in continuation of the statement released on 08/14/2020, informs that it signed with Sao Francisco Energia SA, a subsidiary of Global Participacoes em Energia SA, a contract for the sale of the three thermoelectric plants powered by fuel oil, located in Camacari , in the state of Bahia (UTEs Polo Camacari).

The sale value is R $ 95 million and does not consider the adjustments provided for in the contract until the closing of the transaction, which is subject to the fulfillment of precedent conditions, such as the approvals of the Administrative Council for Economic Defense (CADE) and the National Agency of Electricity (ANEEL).

According to the director of Institutional Relations and Sustainability at Petrobras, Roberto Ardenghy, the signing of the contract is an important milestone in the consolidation of a stronger and more competitive industry. “Our goal is to maximize the value of our portfolio and provide an opportunity for other companies in the sector to also prosper. We believe that the arrival of the new owners brings good prospects for the thermal plants in Camaçari, which should also have a positive impact on the region's economy ”.

The Director of Institutional Relations at Global Participações em Energia SA, Juliano Matos, believes that the company's divestment process promotes greater competitiveness and an unprecedented integration in the Brazilian economy, creating opportunities for new investments. "We see as a direct consequence of this acquisition the maintenance of jobs, the timely fulfillment of social and environmental commitments and the respect for contracts and energy availability, which are essential for national development."

It should be noted that the divestment project of UTE Canoas, located in the state of Rio Grande do Sul, remains in progress and the subsequent steps will be announced to the market in due course.

The present disclosure to the market is in accordance with Petrobras internal rules and with the special asset divestment regime by federal mixed capital companies, provided for in Decree 9.188 / 2017.

This operation is in line with the portfolio optimization strategy and the improvement of the company's capital allocation, aiming at maximizing value for its shareholders.

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