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Financial News: ENGIE: CESP Is On The Radar Of The

ENGIE: CESP Is On The Radar Of The Company, Says Director

04/22/2018 - 09:06:00 (RTTNews)

(RTTNews) - Engie Brasil said it expects to announce the new sale notice of the Sao Paulo state-owned power company CESP to decide whether or not to take part in the company's privatization auction.

"Now that it has a term of more than 20 years, it is a more interesting asset, but an offer should depend very much on the conditions that the Sao Paulo state government will put in place," said Carlos Freitas, Investor Relations director during a conference call with analysts.

With three plants in operation, CESP can add 1,654 megawatts (MW) in hydropower generation to Engie's portfolio. The largest of them, Porto Primavera, can generate 1,540 MW and was benefited by a decree of President Michel Temer to have its concession renewed for 20 years.

The merger of the asset is in line with the investment policy of Engie, which seeks to sell assets such as the Jorge Lacerda coal plant and invest in renewable power sources.

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