Eletrobras has announced its plans to invest $17 billion over the next five years in Brazil. It is the largest power utility in Latin America.
The company plans to focus on growing through mergers and acquisitions. Out of the total, around $3.6 billion would be allocated to investments in electricity generation. The company is targeting up to 15 deals in total.
According to the company, it plans to explore acquisition opportunities in the low-carbon energy sector.
In recent years, Brazil has been expanding its wind and solar energy capacity, mostly in the northeast of the country. It has been a significant producer of renewable energy.
To be noted, 84% of Brazil’s power generation comes from renewable sources.
“Eletrobras’ investment plans reflect the company’s commitment to further develop and diversify Brazil’s energy sector through mergers, acquisitions, and the expansion of renewable energy capacity and transmission infrastructure,” a local report mentioned.
