ENGIE Brasil Energia announced that it will invest more than R$8,5 billion between 2025 and 2027, continuing its expansion strategy in renewable energy and transmission infrastructure.
“Our long-term strategic planning, combined with the efficient management of a diversified portfolio and adequate risk pricing, provides stability and predictability to our results,” comments Eduardo Sattamini, CEO of ENGIE Brasil Energia.
Milestone in 2024
The company also reported that it ended 2024 with R$9,7 billion, the largest volume of investments in its history. According to ENGIE, most of the resources were allocated to solar and wind power plants and transmission systems.
Still in financial results, ENGIE saw its net operating revenue exceed R$ 11,2 billion in 2024, an increase of 4,4%, compared to the value recorded in the previous year.
According to the company, this increase was mainly due to the entry into operation of projects under implementation – the Serra do Assuruá (BA) and Santo Agostinho (RN) wind farms and the Assú Sol (RN) photovoltaic complex – as well as the acquisition of renewable assets already operational, which more than offset the divestments made throughout 2023.
The EBITDA* recorded, in turn, when considering the effects of the partial divestment of the stake in Transportadora Associada de Gás SA - TAG, reached R$ 8,7 billion, a growth of 20,2% compared to 2023. According to ENGIE, without this non-recurring effect, adjusted EBITDA was 1,3% higher than the previous year.
The net profit recorded in 2024 was R$4,3 billion, an increase of 25,5% compared to the previous year, considering the effects of the aforementioned divestment.
Without considering these impacts, adjusted net income fell by 1,4%, mainly due to the increase in depreciation and amortization expenses related to the new plants that entered the company's portfolio.
Another milestone in 2024 was the expansion of the company's operations. In total, 1,2 GW were added to its own installed capacity, totaling 9,6 GW of 100% renewable energy, distributed across 115 plants in the country.
In addition to consolidating the full operation of the Santo Agostinho wind farm and acquiring photovoltaic assets that are already in operation, the start of commercial operations of the Serra do Assuruá wind farm was brought forward, operating more than half of its installed capacity, which will reach 846 MW. In parallel, ENGIE began operational tests of the Assú Sol photovoltaic farm, which will add 752 MW to its generating park in 2025.
“We also made progress in the transmission area with the acquisition of the main lot of the second auction promoted by ANEEL in 2024. In the competition, we won the Graúna Transmission System, which should reinforce the South and Southeast/Central-West subsystems of the country, with 780 kilometers in length, being the fifth transmission project to be implemented by the Company since we entered the segment”, points out Eduardo Takamori, Financial and Investor Relations Director at ENGIE Brasil Energia.
In total, the Company currently has 2.710 kilometers of lines in operation and another thousand kilometers of the Asa Branca project under implementation.
Free market and commercialization
In the Free Energy Market, ENGIE recorded a 32% increase in the number of customers. The total amount of energy sold in 2024 reached 36.064 GWh (4.106 average MW), excluding trading operations. This volume is 0,4% higher than that sold in 2023.
ESG Achievements
In 2024, the company was announced as one of the most sustainable companies in the world during the World Economic Forum in Davos, when it was included in the Global 100 ranking. Corporate Knights.
In addition, it became part of the Dow Jones Best-in-Class Emerging Markets, one of the most relevant sustainability indexes in the world. And it was among the six leading energy companies in the world in sustainability, being in the Top 5% in the sector. Electric Utilities from the Sustainability Yearbook, which considers the scores from S&P Global's Corporate Sustainability Assessment (CSA).
Another relevant achievement was the award for the Supplier Decarbonization Program, which received the Global Compact Rede Brasil (UN) Award, in the “Guardians for the Climate” category, during the 29th Climate Conference (COP 29).
The program includes diagnostics, training and access to transition opportunities to a low-carbon economy throughout the Company's value chain.
“These recognitions are the result of the constant evolution of our policies, processes and initiatives focused on sustainability. In a global context of greater complexity, in 2024, we have proven our resilience and financial discipline, in addition to making the largest volume of investments in our history, contributing to the energy transition and reaffirming our long-term commitment to the country”, concludes Sattamini.
* EBITDA is an acronym in English formed by the following words Earnings Before Interest Rates, Taxes, Depreciation and Amortization. In literal translation, it would be Earnings Before Interest, Income Tax, Depreciation and Amortization. In practice, a company's EBITDA allows investors to know how much cash the company generates considering only its operational activities.
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