By Brazil Stock Guide – Ambar Energia, part of J&F Investimentos—the conglomerate controlled by brothers Joesley and Wesley Batista—has announced the acquisition of three thermal power plants in Acre from Rovema, expanding its presence into the Amazon region for the first time.
The plants, which together have an installed capacity of 69.4 megawatts (MW), supply electricity to about 30,000 consumers, representing roughly 20% of all connections in the state, according to the company’s statement. The information was first reported by Agência Estado.
The deal marks a significant geographic expansion for Ambar Energia, which will now operate in 11 Brazilian states. The transaction value was not disclosed and is still pending regulatory approval from Brazil’s electricity regulator Aneel and the antitrust authority Cade.
The three diesel-fired facilities—Cruzeiro do Sul (52.8 MW), Feijó (7.2 MW), and Tarauacá (9.4 MW)—are located in municipalities of the same names.
Marcelo Zanatta, CEO of Ambar Energia, said the acquisition strengthens the company’s presence in northern Brazil and broadens its generation portfolio. “We reaffirm our commitment to energy security and the continuous supply of power to local communities. The plants in Acre are crucial to this mission,” he stated.
Ambar Energia has shown an aggressive appetite for generation assets, including thermal plants powered by fuels that many major companies are divesting from, such as fuel oil and coal. Still, the company has diversified its portfolio with renewable and lower-emission sources, including nuclear energy.
Earlier this month, on October 15, Ambar surprised the market by announcing an agreement to acquire Eletrobras’ (NYSE: EBR) stake in Eletronuclear, operator of the Angra 1 and 2 nuclear power plants. On October 3, it also signed a deal to acquire Roraima Energia and four thermal power plants from the Amazonas-based Oliveira Energia group.
Throughout October, Ambar finalized three additional transactions: the purchase of the natural gas-fired Santa Cruz plant from Axia Energia (formerly part of Eletrobras), the diesel-powered Goiânia II plant from GNPW Participações (BVMF: GNPW3), and several hydropower assets—Machado Mineiro, Sinceridade, Martins, and Marmelos—from Cemig (BVMF: CMIG4) for its subsidiary Ambar Hidroenergia.
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