Eletrobras#List of current and former CEOs

Eletrobras was established in 1962 during João Goulart's presidency.

Image:Itaipu Dam.jpg

Eletrobras is an electric power holding company. It is the largest generation and transmission company in Brazil. Through its subsidiaries it owns about 40% of Brazil's generation capacities and controls 69% of the National Interconnected System.

{{cite book

|url= https://books.google.com/books?id=9xm8VBG_xNwC&pg=PA85

|title= OECD Reviews of Regulatory Reform: Brazil 2008 Strengthening Governance for Growth

|publisher=OECD

|year=2008

|page=85

|isbn= 9789264042933}}

Eletrobras stands as the biggest company of the electric power sector in Latin America.

Among Eletrobras' subsidiaries, there are generation and transmission companies.

{{Infobox company

| name = Eletronorte S.A.

| logo =

| ISIN =

| type = Private, subsidiary of Eletrobras

| foundation = {{Start date and age|1973}}

| location_city = Brasília

| location_country = Brazil

| industry = Power generation

| products = Electrical power

| services = Electricity distribution

| num_employees = 3,655

| homepage = {{URL|www.eln.gov.br}}

}}

Eletronorte (Centrais Elétricas do Norte do Brasil S.A.) is responsible for the power generation, transmission and distribution in the states of Amazonas, Pará, Acre, Rondônia, Roraima, Amapá, Tocantins and Mato Grosso.

{{Infobox company

| name = Eletropar S.A.

| logo =

| ISIN =

| type = Subsidiary

| foundation = {{Start date and age|1995}}

| location = Rio de Janeiro, Brazil

| industry = Private equity

| revenue = {{profit}} US$ 98.0 Million (2010)

| net_income = {{profit}} US$ 13.6 Million (2010)

| assets = {{profit}} US$ 152.4 Million (2011)

| num_employees = 230

| homepage = [http://www.eletrobraspar.com www.eletrobraspar.com]

}}

Eletrobras Eletropar acts in participations of other energy companies.

• Eletronet - 49.27%{{Cite web|url=https://www.eletronet.com/|title=Trânsito IP para Provedores de Internet | Eletronet|date=3 February 2020|accessdate=18 March 2023}}
• Companhia Energética de São Paulo - 4.77%
• EMAE - Empresa Metropolitana de Águas e Energia - 1.42%
• AES Eletropaulo - 2.03%
• CPFL Energia - 1.15%
• CTEEP - 0.66%
• Energias de Portugal - 3.09%
• Itaipu Binacional - 50.00%

{{Infobox company

| logo =

| ISIN =

| name = CHESF S.A.

| type = Subsidiary

| key_people = Fabio Lopes Alves (CEO){{cite web |url=https://www.chesf.com.br/empresa/Pages/DiretoriaConselhos/Diretoria.aspx |title=Sobre a empresa – Diretoria e Conselhos |date= |access-date=21 September 2022 |publication-date= | orig-date= |publisher=Companhia Hidrelétrica do São Francisco (Chesf) |website= |page= |lang=pt-br |format= |url-status= |url-access= |via=}}{{cite web |url=https://exame.com/negocios/ex-secretario-de-energia-fabio-alves-e-nomeado-presidente-da-chesf/ |title=Ex-secretário de energia Fábio Alves é nomeado presidente da Chesf |date=3 May 2018 |access-date=21 September 2022 | orig-date= |publisher=Exame |website= |page= |pages= |lang=pt-br |format= |url-status= |url-access= |via=}}

| industry = Utilities

| products = Electricity generation

| num_employees = 4,427

| parent = Eletrobras

| foundation = {{Start date and age|1948}}

| location = Recife, Brazil

| homepage = [https://www.chesf.com.br/ www.chesf.com.br]

}}

CHESF (Companhia Hidro-Elétrica do São Francisco; São Francisco's Hydroelectric Company) generates and transmits electric power from hydroelectric plants to all of the cities in northeast of Brazil. It owns 14 hydroelectric energy plants and 1 thermoelectric energy plant.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=5872422|title=Companhia Hidro Elétrica do São Francisco: Private Company Information - Bloomberg|website=www.bloomberg.com|access-date=28 November 2016}} Sinval Zaidan Gama was made CEO in January 2017.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=304667415&privcapId=5872422|title=José Carlos De Miranda Farias: Executive Profile & Biography - Bloomberg|website=www.bloomberg.com|access-date=28 November 2016}}

The main source of energy is the São Francisco River.

{{Infobox company

| name = Eletrobras CGTEE S.A.

| logo = Eletrobras cgtee.jpg

| type = Subsidiary

| foundation = {{Start date|1996|12|26|df=y}}

| defunct = {{End date|2020|01|02|df=y}}{{cite web |url=https://www.cgteletrosul.com.br/a-empresa/quem-somos/historico/cgtee |title=História da CGTEE |date= |access-date=21 September 2022 |publication-date= | orig-date= |publisher=Companhia de Geração e Transmissão de Energia Elétrica do Sul do Brasil (CGT Eletrosul) |website= |page= |pages= |lang=pt-br |format= |url-status= |url-access= |via=}}

| location_city = Candiota

| location_country = Brazil

| key_people =

| industry = Electricity

| num_employees =

| parent = Eletrobras

| divisions = CGT Eletrosul

| homepage = [https://www.cgteletrosul.com.br/ cgteletrosul.com.br]

}}

Eletrobras CGTEE was a Brazilian power company created on 11 July 1997. It is active in the state of Rio Grande do Sul.{{Cite web |url=http://www.cgtee.gov.br/sitenovo/index.php?secao=2 |title=Archived copy |access-date=11 August 2017 |archive-date=17 February 2014 |archive-url=https://web.archive.org/web/20140217064939/http://www.cgtee.gov.br/sitenovo/index.php?secao=2 |url-status=dead }}

Eletrobras Cepel

Eletrobras Eletronuclear

Eletrobras Eletrosul

Eletrobras Furnas

Itaipu Binacional

Eletrobras was authorized by Act 11.651, sanctioned on 7 April 2008, to operate abroad as an investor in the power sector, by means of consortiums and/or specific purposes companies; it may also have control on enterprises. In order to coordinate this operation, it was created the Superintendence of Operations Abroad, which will operate following the guidelines of its board of directors.

For this first period, the Superintendence of Operations Abroad has set forth the priorities as follows:

1. Interconnect new sources of energy in Latin America with the Brazilian power system;
2. Promote the energetic integration between Brazil and the countries of Latin America; and
3. Prospect opportunities for investment in power energy in other countries to benefit the Brazilian economy by generating new markets for the goods and services suppliers segment.

The Superintendence of Operations Abroad has been developing negotiations with several countries in Latin America and Africa:

• Angola and Namibia – Feasibility Studies of the AHE{{clarify|date=February 2012}} from Baynes, located in the Cunene River, in the border between the two countries;
• Argentina – AHE Binacional de Garabi;
• Costa Rica – Technical Cooperation Agreement under analysis;
• Nicaragua – Appraisal of AHEs from Boboke and Tumarim;
• Peru – Analysis of feasibility for use of 15 AHEs, totalizing 20,000 MW;
• Uruguay - New transmission lines expanding the already existing electric interconnection between the southern part of Brazil and Uruguay;
• Venezuela – Studies for interconnection with the purpose of having an electric interchange between the two countries.

With Bolivia, Colombia, China, Ecuador, El Salvador, Guinea Bissau, Guyana, Morocco and Nigeria the contacts are in their initial phase.

In May 2021, the Câmara dos Deputados approved a Provisional Measure (MP), sent by the Bolsonaro Government, that foresees the privatization of Eletrobras. The process would take place through the sale of new ordinary shares on the B3 Stock Exchange, which in practice would decrease the shareholding interest of the government and the Brazilian Development Bank (BNDES) to about 45%, with more papers offered to private investors. Where each shareholder, individually, could not hold more than 10% of the voting capital of the company. The Government would maintain a special class of share (golden share) that grants it veto power in decisions of the shareholders' meeting.{{Cite web |date=19 May 2021 |title=Câmara aprova privatização da Eletrobras; texto ainda será votado no Senado |url=https://economia.uol.com.br/noticias/redacao/2021/05/19/camara-aprova-venda-da-eletobras-deputados-ainda-votam-mudancas-no-texto./ |access-date=20 May 2021 |website=UOL Economia |language=pt-br}} The MP was approved in the Senate Plenary, on 17 June 2021, with the presentation of three different opinions by the rapporteur, Senator Marcos Rogério (DEM-RO). The dispute was reflected in the result of the vote: the MP received 42 votes in favor and 37 against.{{Cite web |date=17 June 2021 |title=Senado aprova MP que desestatiza Eletrobras; texto volta para Câmara |url=https://www12.senado.leg.br/noticias/materias/2021/06/17/senado-aprova-mp-que-desestatiza-eletrobras-texto-volta-para-camara |access-date=24 June 2021 |website=Senado Federal |language=pt-br}}{{Cite web |last= |date=17 June 2021 |title=Marcos Rogério comemora projeto de privatização da Eletrobrás; Caso siga o exemplo da Ceron em Rondônia tarifas devem aumentar |url=https://www.portalrondonia.com/2021/06/17/marcos-rogerio-comemora-projeto-de-privatizacao-da-eletrobras-caso-siga-o-exemplo-da-ceron-em-rondonia-tarifas-devem-aumentar/ |access-date=25 June 2021 |website=Portal Rondônia |language=pt-BR}}

Privatization advocates argue that once privatized the company would increase its investment capacity.{{Cite web |date=19 May 2021 |title=Privatização pode injetar R$ 10 bilhões ao ano na Eletrobras, diz secretário |url=https://www.poder360.com.br/economia/privatizacao-pode-injetar-r-10-bilhoes-ao-ano-na-eletrobras-diz-secretario/ |access-date=24 June 2021 |website=Poder360 |language=pt-br}} However it was criticized by other sectors of society, such as the Union Movement for Energy, Instituto de Energia e Meio Ambiente (IEMA), and the Federação das Indústrias do Estado de São Paulo (FIESP), fearing that the project could lead to increased tariffs for consumers and cause environmental damage.{{Cite web |last= |first= |date=14 June 2021 |title=Entidades criticam texto da MP de privatização da Eletrobras |url=https://www.correiobraziliense.com.br/economia/2021/06/4931096-entidades-criticam-texto-da-mp-de-privatizacao-da-eletrobras.html |access-date=24 June 2021 |website=Correio Braziliense |language=pt-BR}}{{Cite web |date=21 June 2021 |title=Fiesp critica relatório da MP da Eletrobras e manutenção de 'jabutis' |url=https://www.cnnbrasil.com.br/business/fiesp-critica-relatorio-da-mp-da-eletrobras-e-manutencao-de-jabutis/ |access-date=24 June 2021 |website=CNN Brasil |language=pt-BR}} The main concerns about the privatization were amendments requiring the contracting of thermoelectric plants powered by natural gas and the authorization to build the Tucuruí transmission line without the need for environmental permits from the Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis (IBAMA) and the Fundação Nacional do Índio (FUNAI).{{Cite web |date=17 June 2021 |title=Senado aprova MP que autoriza privatização da Eletrobras |url=https://g1.globo.com/jornal-nacional/noticia/2021/06/17/senado-aprova-texto-base-da-mp-que-autoriza-privatizacao-da-eletrobras.ghtml |access-date=24 June 2021 |website=G1 |language=pt-br}}

The final version of the project was approved on 21 June 2021. The final proposal extends contracts of the PROINFA for 20 years, provides for the construction of SHPs, and forbids, for ten years, that subsidiaries of Eletrobras are extinguished. The MP also determines revitalization projects in the Bacia do rio São Francisco, the Furnas reservoirs, in the Amazonia, Madeira River and Tocantins River. Also, Eletronuclear, responsible for the Usina Nuclear de Angra, and the Brazilian participation in the Itaipu Dam will be dismembered from Eletrobras and kept under state control.{{Cite web |date=21 June 2021 |title=Câmara aprova privatização da Eletrobras; texto vai à sanção presidencial |url=https://economia.uol.com.br/noticias/redacao/2021/06/21/camara-aprova-privatizacao-da-eletrobras-mudancas-ainda-serao-votadas.htm |website=UOL Economia |language=pt-br |accessdate=24 June 2021}}{{Cite web |date=21 June 2021 |title=Privatização da Eletrobras: saiba ponto a ponto o que prevê a MP aprovada pela Câmara |url=https://g1.globo.com/economia/noticia/2021/06/21/privatizacao-da-eletrobras-saiba-ponto-a-ponto-o-que-preve-a-mp-aprovada-pela-camara. |website=G1 Economia |language=pt-br}}

In July 2021, Bolsonaro sanctioned the Provisional Measure for the privatization of Eletrobras. According to government accounts the privatization would reduce the electricity bill by about 7.36%.{{Cite web |date=9 June 2021 |title=Governo diz que privatização da Eletrobras pode reduzir conta de luz em até 7,36% |url=https://g1.globo.com/economia/noticia/2021/06/09/governo-diz-que-privatizacao-da-eletrobras-pode-reduzir-conta-de-luz-em-ate-736percent.ghtml |access-date=15 February 2022 |website=G1 |language=pt-br}} On the other hand, entities in the sector said that the electricity bill will become more expensive with the privatization.{{Cite web |date=17 June 2021 |title=MP da Eletrobras: Senado aprova texto com mudanças que podem aumentar conta de luz; entenda |url=https://g1.globo.com/economia/noticia/2021/06/17/mp-da-eletrobras-senado-aprova-texto-com-mudancas-que-podem-aumentar-conta-de-luz-entenda.ghtml |access-date=15 February 2022 |website=G1 |language=pt-br}}

The focus of the privatization is to sell shares until the government ceases to own 60% of the shares and owns 45% of the company, thus losing the majority stake in the company.{{Cite web |date=13 July 2021 |title=Bolsonaro sanciona com vetos MP da privatização da Eletrobras |url=https://g1.globo.com/politica/noticia/2021/07/13/bolsonaro-sanciona-com-vetos-mp-da-privatizacao-da-eletrobras.ghtml |access-date=15 February 2022 |website=G1 |language=pt-br}}

In September 2021, the Empresa Brasileira de Participações em Energia Nuclear e Binacional (ENBPar) was created, with the objective of taking over Eletrobras activities that cannot be privatized, such as the Itaipu Binacional and Eletronuclear companies (Angra 1, 2 and 3 plants) and the management of public policies, under law 14.182/2021.{{Cite web |last= |first= |date=13 September 2021 |title=Decreto cria estatal para assumir Eletronuclear e Itaipu após venda da Eletrobras |url=https://www.correiobraziliense.com.br/economia/2021/09/4949176-decreto-cria-estatal-para-assumir-eletronuclear-e-itaipu-apos-venda-da-eletrobras.html |access-date=18 June 2022 |website=Correio Braziliense |language=pt-BR}}

On 14 June 2022, 802.1 million shares were sold, with a base price of R$42 (US$8.56), in an operation that moved R$33.7 billion (US$6.9 billion).{{Cite news |date=9 June 2022 |title=Brazil's Eletrobras Share Sale Raises $6.9 Billion in Latin America's Biggest Equity Deal in 2021 |newspaper=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2022-06-09/brazil-eletrobras-stock-sale-said-to-raise-at-least-6-billion |access-date=9 June 2022}} With this, the Union's stake in the voting capital of the state company was reduced from 68.6% to 40.3%.{{Cite web |date=16 June 2022 |title=Cingapura, Canadá e Lemann vão controlar Eletrobras |url=https://www.istoedinheiro.com.br/cingapura-canada-e-lemann-vao-controlar-eletrobras/ |access-date=18 June 2022 |website=ISTOÉ DINHEIRO |language=pt-BR}}

Major shareholders include GIC Private Limited, the Canada Pension Plan Investment Board (CPPIB), and the Brazilian manager 3G Radar, linked to 3G Capital.

Employees and retirees of Eletrobras and its subsidiaries had priority to acquire up to 10% of the total shares offered.{{Cite web |date=14 June 2022 |title=Privatização da Eletrobras: veja perguntas e respostas |url=https://g1.globo.com/economia/noticia/2022/06/14/privatizacao-da-eletrobras-veja-perguntas-e-respostas.ghtml |access-date=18 June 2022 |website=G1 |language=pt-br}} It was also authorized that workers could buy company shares using up to 50% of the balance of the FGTS.

{{Reflist}}

• {{Official website|http://www.eletrobras.com/elb/data/Pages/LUMIS482AEFCFENIE.htm}}

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Category:Electric power companies of Brazil

Category:Companies based in Rio de Janeiro (city)

Category:Energy companies established in 1962

Category:Brazilian companies established in 1962

Category:Companies listed on B3 (stock exchange)

Category:Companies listed on the Madrid Stock Exchange

Category:Companies listed on the Nasdaq