EBR - Eletrobras foresees 2023-27 capex up to $17B weighing M&A deals
2023-07-25 14:12:08 ET
Brazilian power company Eletrobras ( NYSE: EBR ) +1.1% in Tuesday's trading after disclosing plans to spend 70B-80B reais (~$16.9B) over the next five years.
Of the total amount, 17.1B reais already has been earmarked for electricity generation and transmission projects as well as maintenance of current assets, the company said in a Brazilian securities filing.
Latin America's largest utility also said it is evaluating additional growth alternatives, "a total of 15 M&A deals in renewable energy and transmission assets."
Eletrobras ( EBR ) said the government's next energy transmission auctions, including one in December expected to be the biggest in Brazil's history, also provide opportunities for potential growth.
More on Eletrobras:
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- Stock price return: Up 11.5% YTD, down 3.5% in the past 12 months
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Eletrobras foresees 2023-27 capex up to $17B, weighing M&A deals