EXCLUSIVE. Equatorial wants to sell Echoenergia, its renewable energy company
Equatorial Energia has started a process for the potential sale of its wind and solar generation subsidiary, Echoenergia, sources with knowledge of the matter told Brazil Journal. The transaction is still in its initial phase, with some groups – including Engie – preparing to conduct due diligence on the assets, the sources said.
Equatorial Energia has started the process of potentially selling its wind and solar subsidiary, Echoenergia. The company acquired Echoenergia in 2021 for R$ 10 billion. The sale is in its initial stages, with some groups, including Engie, preparing to conduct due diligence on the assets. The renewable energy sector has faced challenges, including forced production cuts due to a surplus of energy, making it difficult to agree on a price for Echoenergia. A recent government decree may facilitate the resumption of mergers and acquisitions in the sector.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
