By Brazil Stock Guide – Brazil’s state development bank BNDES approved 1.05 billion reais ($210 million) in financing to support investments by Energisa SA (ENGI11 BZ) in power distribution networks across Acre, Tocantins and Mato Grosso.
The funding will support upgrades to electricity infrastructure operated by Energisa Acre Distribuidora de Energia SA, Energisa Tocantins Distribuidora de Energia SA, and Energisa Mato Grosso Distribuidora de Energia SA, part of Energisa’s broader expansion and modernization plan.
The financing was structured through three debenture issuances coordinated by BNDES, which were subscribed by the bank on Thursday (20). The instruments are designed to support infrastructure investment while broadening access to capital markets.
The investment program includes replacement of electrical equipment, connection of new consumer units, installation of metering systems and voltage adjustments across distribution networks. The projects also involve the construction of new substations, expansion and modernization of existing facilities, and development of new distribution lines.
Additional measures will focus on regularizing illegal connections and acquiring grid equipment to support demand growth across the three states.
BNDES President Aloizio Mercadante said the investment reflects the need for continuous upgrades in Brazil’s electricity distribution sector.
“The electricity distribution sector requires intensive investments in modernization, expansion and constant adaptation of installed capacity to guarantee service quality and meet demand from current and new customers.”
“BNDES support uses modern instruments such as incentivized debentures, acting as a complementary source to capital markets and diversifying the investor base. This contributes to expanding and improving service quality for Brazilians living in Acre, Tocantins and Mato Grosso, in line with President Lula’s determination.”
Marcus Albernaz, Corporate Finance Director at Energisa, said the financing will strengthen electricity supply across hundreds of municipalities.
“This operation represents a relevant step by enabling structural investments that expand capacity, reliability and quality of electricity supply to more than 300 municipalities, directly benefiting over 6 million people.”
“Our goal is to deliver an increasingly efficient, resilient service aligned with the current and future needs of our customers.”
He added that the debenture structure offers competitive financing conditions.
“The debentures also provide very competitive interest rates and maturities. At Energisa we operate with high operational efficiency and rigorous resource management, combining financial discipline, technical planning and innovation to maximize results, reduce costs and generate sustainable value.”
Founded in 1905, Energisa is one of Brazil’s largest private electricity groups. The company operates nine power distribution utilities, 13 transmission concessions and a centralized solar generation plant, in addition to energy solutions through its (re)energisa platform.
The group also expanded into natural gas distribution after acquiring ES Gás in 2023, and later purchasing stakes in Cegás, Copergás, Algás and Potigás in 2024.
Energisa serves more than 20 million people across 939 municipalities in Brazil and supports roughly 20,000 direct and indirect jobs.
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