SUBSCRIBE
PROFILE

Neoenergia sells 50% of Itabapoana Transmission to GIC for $24.8mn

Neoenergia sells 50% of the Itabapoana Transmission asset to GIC for $24.8mn, integrating the assets into their joint holding company without changing their shareholding structure.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 £*

then 199 £/year

SUBSCRIBE — 99 £ for the 1st year

Create a free account to read this article

*renews at 199£/year, cancel anytime before renewal.

Neoenergia, a major player in the Brazilian energy sector, has signed an agreement to sell 50% of its interest in the Itabapoana Transmission asset to GIC Private Limited (GIC) for an amount of $24.8mn. This transaction remains subject to usual adjustments before its final completion.

Strengthening the Neoenergia Transmission holding company

The assets resulting from this operation will be integrated into Neoenergia Transmission, the holding company equally owned by Neoenergia and GIC since April 2023. At the end of this sale, the shareholding structure will remain unchanged, with each partner holding 50%.

This sale is part of Neoenergia’s asset rotation strategy aimed at optimising portfolio management. The partnership with GIC is seen as a lever to strengthen investments in power transmission infrastructure.

Future investments and expected performance

Neoenergia plans to complete its investment cycle in transmission by the end of 2025, with the commissioning of the Vale Itajaí, Guanabara, Morro do Chapéu and Alto Paranaíba projects. These projects are expected to generate approximately $194mn in additional Annual Permissible Revenue (RAP).

In 2024, Neoenergia commissioned the Itabapoana, Estreito and Paraíso projects, as well as key sections of Morro do Chapéu, Guanabara and Vale do Itajaí. This momentum added around $58mn in new RAP, bringing the total RAP released by the end of 2024 to $194mn.

A strategic asset for Neoenergia and GIC

The Itabapoana project, acquired in December 2018 from the National Electric Energy Agency (Agência Nacional de Energia Elétrica, ANEEL), covers 221.9 kilometres of dual-circuit transmission lines connecting the Mutum (Minas Gerais) and Campos 2 (Rio de Janeiro) substations, with a voltage of 500 kilovolts (kV).

“This new operation confirms our commitment to optimising capital allocation and maximising results for our shareholders,” said Eduardo Capelastegui, Chief Executive Officer of Neoenergia.

  • Popular on energynews.pro
The United States Sanctions Greek Shipper for Iranian Oil Trafficking
Metacon confirms partial delivery and receives EUR 14.9 million
Canadian Utilities secures AUC approval for Yellowhead gas pipeline project
China: 25 GW of coal approved in H1 2025, commissioning surges
Avangrid invests $122 million in Meyer substation to strengthen interconnection
Martijn Hagens to lead Eneco from March 2026
Eneco’s Supervisory Board has appointed Martijn Hagens as the next Chief Executive Officer. He will succeed interim CEO Kees Jan Rameau, effective from 1 March 2026.
Data centres in Japan to drive 60% of electricity demand growth by 2034
With $28 billion in planned investments, hyperscaler expansion in Japan reshapes grid planning amid rising tensions between digital growth and infrastructure capacity.
Ørsted suffers historic drop and closes at around 26 USD after offshore project suspension
The suspension of the Revolution Wind farm triggers a sharp decline in Ørsted’s stock, now trading at around 26 USD, increasing the financial stakes for the group amid a capital increase.
Hydro-Québec increases net income and intensifies investments
Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.
Air Liquide acquires South Korean DIG Airgas for €2.85 billion
French group Air Liquide strengthens its presence in Asia with the acquisition of South Korean DIG Airgas, a key player in industrial gases, in a strategic €2.85 billion deal.
France: the government asks EDF to reassess the sale of its subsidiary Exaion
The Ministry of Economy has asked EDF to reconsider the majority sale agreement of its technology subsidiary Exaion to the American group Mara, amid concerns related to technological sovereignty.
IBM and NASA launch AI model to anticipate solar storm risks
IBM and NASA unveil an open-source model trained on high-resolution solar data to improve forecasting of solar phenomena that disrupt terrestrial and space-based technological infrastructures.
LPSC approves 3 new power plants to support Meta’s data center
The Louisiana regulatory commission authorizes Entergy to launch major energy projects tied to Meta’s upcoming data center, with anticipated impacts across the regional power grid.
Westbridge Reduces Common Shares by Four to Attract Institutional Investors
Westbridge Renewable Energy will implement a share consolidation on August 22, reducing the number of outstanding shares by four to optimize its financial market strategy.
T1 Energy strengthens its U.S. solar strategy and reaffirms 2025 targets
T1 Energy secures a wafer supply contract, signs 437 MW in sales, and advances G2_Austin industrial deployment while maintaining EBITDA guidance despite second-quarter losses.
Masdar mobilizes USD 1.685 billion for energy projects through green bonds
Masdar has allocated the entirety of its 2023–2024 green bond issuances to solar, wind, and storage energy projects, while expanding its financial framework to include green hydrogen and batteries.
Energiekontor issues a €15 million green bond for its European projects
Energiekontor launches a €15 million corporate bond at 5.5% over eight years, intended to finance wind and solar projects in Germany, the United Kingdom, France, and Portugal.
United States: 2024 Capex and M&A Strengthen Producers’ Energy Advantage
The 2025 EY study on 40 groups shows capex driven by mega-deals, oil reserves at 34.7 billion bbl, gas at 182 Tcf, and pre-tax profits declining amid moderate prices.
Ampol’s Half-Year Profit Drops 23% but Exceeds Market Expectations
Australian fuel distributor Ampol reports a 23% drop in net profit, impacted by weak refining margins and operational disruptions, while surpassing market forecasts.
Puerto Rico faces a sharp rise in power outages in 2024
Puerto Rico customers experienced an average of 73 hours of power outages in 2024, a figure strongly influenced by hurricanes, according to the U.S. Energy Information Administration.
CITGO posts $100 million net profit in second quarter 2025
CITGO returns to profitability in Q2 2025, supported by maximum utilization of its refining assets and adjusted capital expenditure management.
MARA invests $168mn to acquire 64% stake in EDF’s subsidiary Exaion
MARA strengthens its presence in digital infrastructure by acquiring a majority stake in Exaion, a French provider of secure high-performance cloud services backed by EDF Pulse Ventures.
ACEN reaches 2,100 MW of attributable renewable capacity in India
ACEN strengthens its international strategy with over 2,100 MWdc of attributable renewable capacity in India, marking a major step in its expansion beyond the Philippines.
RWE posts €2.1bn adjusted EBITDA in H1 2025 despite adverse wind conditions
German group RWE maintains its annual targets after achieving half its earnings-per-share forecast, despite declining revenues in offshore wind and trading.
OT Cyberattacks: Energy Sector Faces $329 Billion in Risks
A Dragos report reveals the scale of cyber vulnerabilities in global energy infrastructures. Potential losses reach historic highs.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: £99 for the 1styear year, then £ 199/year.

SUBSCRIBE - €99