Eneva
{{Infobox company
| name = Eneva S.A.
| logo =
| caption =
| type = Sociedade Anônima
| traded_as = {{B3 (stock exchange)|cvm=21237|ENEV3}}
| fate =
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| foundation = {{Start date|2001}}
| founder =
| defunct =
| location_city = Rio de Janeiro
| location_country = Brazil
| locations =
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| key_people =
| industry = Electricity
| products = Electric power
| services = Electricity distribution
| revenue = {{increase}} US$ 820.8 million (2017)
| operating_income =
| net_income = {{increase}} US$ 44.0 million (2017)
| assets =
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| homepage = {{URL|www.eneva.com.br}}
| footnotes =
}}
Eneva (former name: MPX Energia S.A.) is a power generation company based in Rio de Janeiro, Brazil. It is listed at the São Paulo exchange.
History
Eneva was founded in 2001 as MPX Energia. In January 2012, German energy utility E.ON agreed to buy a 10% stake in MPX for US$350 million. Eneva and E.ON also agreed to create an equally owned joint venture. Eneva will transfer its 11 power projects with licences for 11,000 MW of generating capacity into the joint venture.
{{cite news
|url= http://www.ft.com/cms/s/0/ff0de130-3c3f-11e1-8d72-00144feabdc0.html
|title= Eon to buy 10% stake in Brazil's MPX Energia
|first1 = Gerrit |last1 = Wiesmann
|first2 = Samantha |last2 = Pearson
|newspaper = Financial Times
|date=2012-01-11
|accessdate=2012-04-06}}
{{cite news
|url= http://uk.reuters.com/article/eon-brazil-idUKL6E8CB1O320120111
|archive-url= https://web.archive.org/web/20160818230139/http://uk.reuters.com/article/eon-brazil-idUKL6E8CB1O320120111
|url-status= dead
|archive-date= August 18, 2016
|title= E.ON enters Brazil with $471 million MPX stake buy
|first1 = Joshua |last1 = Schneyer
|work = Reuters
|date=2012-01-11
|accessdate=2012-04-06}}
In March 2013, it was agreed that E.ON will increase its stake to 36.2%.
{{cite news
|url= https://www.reuters.com/article/mpxenergia-brazil-eon-idUSL2N0CK0MX20130328
|title= E.ON tosses a lifeline to Brazil's Batista with MPX purchase
|first1 = Guillermo |last1 = Parra-Bernal
|first2 = Jeb |last2 = Blount
|work = Reuters
|date=2013-03-28
|accessdate=2013-03-29}}
In March 2020, Eneva extended a $1.5 billion merger proposal to Brazilian energy company AES Tiete.{{Cite news|url=https://www.reuters.com/article/us-aes-tiete-m-a-eneva-idUSKBN20P2AP|title=Brazil energy company Eneva proposes $1.5 billion merger with rival AES Tiete|date=2020-03-02|work=Reuters|access-date=2020-03-12|language=en}}
Power generation
Eneva is developing a thermal power plant in Ceará, Brazil, in partnership with MDU Resources Group, Inc. Together with EDP-Energias do Brasil MPX is building the 720 MW Pecem power plant.
{{cite news
|url= https://www.bloomberg.com/news/2012-01-25/edp-mpx-say-regulator-approved-delay-of-pecem-thermo-plant-1-.html
|title= EDP, MPX Say Regulator Approved Delay of Pecem Thermo Plant
|first = Adriana |last = Brasileiro
|work = Bloomberg
|date=2012-01-25
|accessdate=2012-04-06}}
It is also building 360 MW Pecem II power plant and 360 MW Itaqui power plant, both coal-fired. MPX has also proposed the 720 MW coal-fired Sul power plant, 600 MW coal-fired Seival power plant and 2,100 MW coal-fired Acu power plant with a 3,300 MW natural gas-fired expansion.
In Chile, the company planned to build the 2,100 MW Castilla coal-fired power plant.
{{cite news
|url= https://www.bloomberg.com/news/2011-02-25/chile-regulator-approves-mpx-s-4-4-billion-coal-project-1-.html
|title= Chile Regulator Approves MPX's $4.4 Billion Coal Project
|first = Matt |last = Craze
|work = Bloomberg
|date=2011-02-25
|accessdate=2012-04-06}}
The plan was approved by the Chile environmental authorities; however, the approval was annulled by the appeals court of Antofagasta.
{{cite news
|url= http://www.bnamericas.com/news/electricpower/mpx-to-challenge-court-ruling-against-21gw-castilla-coal-project
|title= MPX to challenge court ruling against 2.1GW Castilla coal project
|first = James |last = Fowler
|work = Business News Americas
|date=2012-03-07
|accessdate=2012-04-06
|id = {{subscription required}}}}
In the field of renewable energy, the company has partnered with the Chinese solar power company Yingli for the development of Tauá solar plant, State of Ceará. The plant has installed capacity of 1 MW and MPX is planning to increase the capacity up to 50 MW.
{{cite news
|url= http://www.bnamericas.com/news/electricpower/mpx-expands-solar-ambitions
|title= MPX expands solar ambitions
|first = Michale |last = Place
|work = Business News Americas
|date=2012-03-09
|accessdate=2012-04-06}}
Coal mining
Eneva has coal mining rights in Colombia and a 70% stake in the Seival coal mine in southern Brazil. Through MPX Columbia it developed Canaverales coal mine in northern Colombia. The project includes Reeds, Papayal and San Benito open pit mines and the San Juan underground mine.
{{cite news
|url=http://www.portafolio.co/economia/mpx-abrira-la-bolsa-mina-colombia
|title= MPX abrirá a la bolsa mina de Colombia, propiedad de Eike Batista, empresario brasilero
|trans-title=MPX bag open for Colombia mine, owned by Eike Batista, Brazilian businessman
|language = Spanish|work = Portafolio
|date=2010-02-09
|accessdate=2012-04-06}}
The mining complex was expected to become operational by 2014.
{{cite news
|url= https://www.bloomberg.com/news/2012-02-09/mpx-expects-colombia-coal-output-in-2014-delaying-plan-1-.html
|title= MPX Delays $4 Billion Colombia Coal Project Amid Price Drop
|first1 = Heather |last1 = Walsh
|first2 = Juan Pablo |last2 = Spinetto
|work = Bloomberg
|date=2012-02-09
|accessdate=2012-04-06}}
However financial pressures forced Eike Batista to sell the project to Yildirim Holding AS of Turkey for some $450 million.{{cite web
|url=http://www.mining.com/brazilian-tycoon-batista-sells-colombian-coal-mines-for-450m-54724/
|title=Brazilian tycoon Batista sells Colombian coal mines for $450 million
|author=Cecilia Jamasmie |date= November 1, 2013
|accessdate=February 14, 2013
|publisher=Mining.com
}}
For coal export it developed a coal terminal at a {{convert|521|ha}} site on the Atlantic coast in Dibulla, La Guajira. In addition to the terminal, a {{convert|150|km|adj=on}} railroad was to be built from the coal mine to the terminal.{{cite news
|url= http://www.bnamericas.com/news/infrastructure/MPX_to_build_US*150mn_coal_port
|title= MPX to build US$150mn coal port
|work= Business News Americas
|date= 2010-01-21
|accessdate= 2012-04-06
|archive-url= https://web.archive.org/web/20160303235120/http://www.bnamericas.com/news/infrastructure/MPX_to_build_US*150mn_coal_port
|archive-date= 2016-03-03
|url-status= dead
}} MPX had announced spinoff its coal mining assets in Colombia to form a new company called Colombian Coal (CCX), listed on the São Paulo stock exchange.
Together with OGX, Eneva has a 70% stake in seven natural gas exploration blocks in Maranhão.