A Equatorial Energia announced the purchase of Celg-D (Distribution Company of the State of Goiás) By R$ 1,57 billion from the Enel. The information was confirmed by the governor of Goiás, Ronaldo Caiado (União Brasil), this Friday (23).
The agreement provides for the acquisition of 282,9 million Celg-D shares, the equivalent of 99,9% of the company's share capital. A Equatorial also will assume the company's debt of R$5,7 billion, with the debt being paid within one year.
Currently, the Equatorial is responsible through the distribution of energy in the states of Maranhão, Pará, Piauí, Alagoas, Rio Grande do Sul and Amapá.
From now on, the distributor also starts operating in Goiás – a state that boasts a lot of pent-up demand for energy after years of underinvestment.
Between 2010 and 2020, Goiás grew substantially above Brazil, largely thanks to the strength of agribusiness. Despite having accelerated investments in the sector, Enel found itself in a delicate political situation when power shortages began in Goiânia.
To solve the problem, the distributor purchased the old Celg in 2017, after paying R$2,1 billion. At the time, the company promised to reduce power outages by 40%.
In 2020, Governor Ronaldo Caiado himself proposed that Enel transfer energy distribution to another company as a way to solve the constant power outage problems.
