By Brazil Stock Guide – AXIA Energia (B3: AXIAE3) has signed a share purchase agreement to acquire the remaining 50.1% of Tijoá Energia, the concessionaire operating the Três Irmãos hydropower plant, from Triunfo Participações e Investimentos and Mercúrio Participações e Investimentos, for R$247 million. The move gives AXIA full control of the 808-megawatt facility in Andradina, São Paulo, on the Tietê River, marking the consolidation of one of the state’s most strategic renewable assets.
The plant, which operates under Brazil’s quota-based regime, generated R$320 million in annual revenue and R$136 million in EBITDA in 2024, with no outstanding debt and a concession valid until 2044. Its infrastructure includes foundations for three additional generating units, paving the way for future capacity expansion. The deal not only strengthens AXIA’s generation portfolio but also streamlines its corporate structure and capital allocation strategy.
The agreement also brings closure to arbitration and court disputes over control of the hydro plant that have dragged on since 2021. As part of the settlement, AXIA will be able to recover about R$390 million in judicial deposits, freeing up cash previously tied to litigation.
According to Vice President of Finance and Investor Relations Eduardo Haiama, the transaction is aligned with AXIA’s strategic plan to optimize its portfolio, mitigate risks, and enhance value creation. The deal’s completion remains subject to standard regulatory and contractual conditions.
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