EDP sells off coal-fired power station in Brazil

Portugal’s energy giant EDP has sold the 20% it still held in a coal-fired power station in Pécem, in the State of Ceará, Brazil to Diamante Geração de Energia for €31.15 million.

It means that EDP has effectively exited the coal-burning power station market in Brazil.

“EDP, S.A., through its wholly owned subsidiary EDP – Energias do Brasil S.A., entered into a purchase and sale agreement with Diamante Geração de Energia Ltda. for the sale of the 20% stake it holds in the company Pecém Geração de Energia S.A.,” a note to the market published on Monday reads.

The sale was made for 0.20Bn reals or €31.15 million. “After this sale EDP will cease to have any share in Pécem” stated the company led by Miguel Stilwell.

EDP sold 80% of the power station to a group of Brazilian investors in September 2023 with the contract also having a sale option for the remaining 20% by the end of the power purchase agreement in 2027.