Petrobras Concludes the Sale of Thermal Power Plants

Source: www.gulfoilandgas.com 12/6/2021, Location: South America

Petrobras, following up on the release diclosed on 05/03/21, informs that it has concluded the sale of the three fuel oil-fired thermal power plants located in Camaçari, in the state of Bahia (UTEs Polo Camaçari) to São Francisco Energia S.A., a subsidiary of Global Participações em Energia S.A. (GPE).

After compliance with the preceding conditions, the transaction was concluded with the payment of R$ 61 million to Petrobras, already considering the adjustments provided for in the sale contract.

This disclosure to the market is in accordance with Petrobras' internal rules and with the special regime for divestment of assets by federal mixed economy companies, provided for in Decree 9,188/2017.

This transaction is aligned with the portfolio management strategy and the improvement of the company's capital allocation, aiming to maximize value and greater return to society.

About the thermal power plants
The Camaçari Cluster UTEs are Petrobras' assets and encompass the Arembepe, Bahia 1, and Muricy plants, with a total installed capacity of 329 MW. The plants operate with fuel oil and have energy commercialization contracts in the regulated market valid until December 2023 for UTEs Arembepe and Muricy, and until December 2025 for UTE Bahia 1.

About GPE
GPE has been operating in the power generation segment since 2001, and now controls ten plants distributed in the states of Rio Grande do Norte, Amazonas, Tocantins, and Bahia. The acquisition is strategic for GPE, because it expands its portfolio of generation assets, especially in Bahia, where it already operates two similar plants.


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