Eletrobras

Centrais Elétricas Brasileiras S.A.
Eletrobras

Type	Sociedade Anônima
Traded as	BM&F Bovespa: ELET3, ELET5, ELET6 NYSE: EBR , EBR.B BMAD: XELTO, XELTB
Industry	Electricity
Founded	1962 (1962)
Headquarters	Rio de Janeiro, Brazil
Key people	José da Costa Carvalho Neto (Chairman) Miguel Colasuonno (CEO)
Products	Electrical power
Services	Electricity distribution Electric power transmission
Revenue	US$ 16.4 billion (2010)
Net income	US$ 1.3 billion (2010)
Total assets	US$ 76.3 billion (2010)
Owner(s)	Brazilian Government (52%)
Employees	25,809
Website	www.eletrobras.com

Eletrobras (Portuguese pronunciation: [eˌlɛtɾoˈbɾas]; BM&F Bovespa: ELET3, ELET5, ELET6 / NYSE: EBR , EBR.B / BMAD: XELTO, XELTB) is a major Brazilian power utility. It's also Latin America's biggest power utility company, tenth largest in the world and is also the fourth largest clean energy company in the world. It is currently expanding its operations in the continent, as well as in Africa. The company's full name is Centrais Elétricas Brasileiras S.A.. Eletrobras holds stakes in a number of Brazilian electric companies, so that it generates and transmits approximately 60% of Brazil's electric supply. The company's generating capacity is about 40,000 MW, mostly in hydroelectric plants. The Brazilian federal government owns 52% of the stock of Eletrobras, which is traded on BM&F Bovespa. The stock is part of the Ibovespa index. It is also traded on the New York Stock Exchange and on the Madrid Stock Exchange

The company's headquarters are located in Brasília, however its main offices, where Eletrobras' chairman works, are located in Rio de Janeiro.

Overview

The Itaipu Dam at night - The world's largest hydroelectric plant by energy generation and second-largest by installed capacity

Created in 1962 during João Goulart's presidency, Eletrobras is the leader of a system consisting of six subsidiary companies, six distribution companies, the Electric Power Research Center (Cepel) and Eletrobrás Participações S.A. (Eletropar) and is also holder of 50% of the capital stock of Itaipu Binational - the world's biggest hydroelectric plant in power generation. Due to its size and scope of operations, Eletrobras played - and continues to play - a key role in fostering economic and social development in Brazil.

Nowadays, Eletrobras stands as the biggest company of the electric power sector in Latin America.

Subsidiary companies

Among Eletrobras' subsidiaries, there are generation, transmission and distribution companies.

• Eletrobras Amazonas Energia
• Eletrobras Distribution Roraima
• Eletrobras Distribution Rondônia
• Eletrobras Distribution Piauí
• Eletrobras Distribution Alagoas
• Eletrobras Cepel
• Eletrobras CGTEE
• Eletrobras Chesf
• Eletrobras Distribution Acre
• Eletrobras Eletropar
• Eletrobras Eletronorte
• Eletrobras Eletronuclear
• Eletrobras Eletrosul
• Eletrobras Furnas
• Itaipu Binacional

Offices in Brazil and around the world

Brasília, Brazil - Headquarters Rio de Janeiro, Brazil - Main Offices São Paulo, Brazil Lima, Peru - Representative Office Montevideo, Uruguay - Representative Office Panama City, Panamá - Representative Office

International activities

Eletrobras was authorized by Act 11.651, sanctioned on April 7, 2008, to operate abroad as an investor in the power sector, by means of consortiums and/or specific purposes companies; it may also have control on enterprises. In order to coordinate this operation, it was created the Superintendence of Operations Abroad, which will operate following the guidelines of its Board of Directors.

For this first period, the Superintendence of Operations Abroad has set forth the priorities as follows:

1) Interconnect new sources of energy in Latin America with the Brazilian power system; 2) Promote the energetic integration between Brazil and the countries of Latin America; and 3) Prospect opportunities for investment in power energy in other countries to benefit the Brazilian economy by generating new markets for the goods and services suppliers segment.

The Superintendence of Operations Abroad has been developing negotiations with several countries in Latin America and Africa:

• Angola and Namibia – Feasibility Studies of the AHE from Baynes, located in the Cunene River, in the border between the two countries;
• Argentina – AHE Binacional de Garabi;
• Costa Rica – Technical Cooperation Agreement under analysis;
• Nicaragua – Appraisal of AHEs from Boboke and Tumarim;
• Peru – Analysis of feasibility for use of 15 AHEs, totalizing 20,000 MW;
• Uruguay - New transmission lines expanding the already existing electric interconnection between the southern part of Brazil and Uruguay;
• Venezuela – Studies for interconnection with the purpose of having an electric interchange between the two countries.

With Bolivia, Colombia, China, Ecuador, El Salvador, Guinea Bissau, Guyana, Morocco and Nigeria the contacts are in their initial phase.

Environmental responsibility

The Environmental Policy of Eletrobras System establishes principles for treatment of social-environmental issues related to electric power enterprises of the companies of the group. The basic premise of its formulation is the conformity with public policies guidelines related to the environment, hydro resources and welfare, and with the international agreements in which Brazil took part, such as the Climate Convention, Agenda 21, Kyoto Protocol and others.

The comprehension of social-environmental issues related to activities of the electric power sector and its treatment increased in the past decades. The environmental policy for the sector was established in the II PDMA – Director Plan of Environment of the Energy Sector - 1991/1993 (vols. I and II), which became the guideline of an environmental excellence standard for companies, recognized by academic segments, opinion makers and NGO's of protection to the environment and human rights, among others.

The idea of sustainable development requires the association of economic, social and environmental issues in corporate activities. In its environmental policy, Eletrobras System summarizes its experience and shows its commitment with considering the requirements in the relationship with the society and investors, creating a consensus on the social-environmental treatment standard of its activities and keeping a systematic and continuous process to adjusting to technology and scientific innovations of a globalized world.

With the implementation and continuous improvement of its environmental policy, Eletrobras System contributes to the creation of a national project of sustainable development.

The seven principles below consist of a declaration of intentions of Eletrobras System which may be divided into individual policies and lines of action of the companies of the group.

PRINCIPLE No. 1:

Integrating social-environmental dimension into plans, projects, processes and activities of the companies of Eletrobras System.

PRINCIPLE No. 2:

Seeking interaction with other sectors and institutions in the implementation of social-environmental plans and actions that may contributed to local and regional sustainable development.

PRINCIPLE No. 3:

Fostering relationship with various segments of the society involved in planning, implementation and operation of electric power enterprises.

PRINCIPLE No. 4:

Contributing so that operation and expansion of the generator plants of Eletrobras System may use the energy resources of the country considering the local and regional potentialities and specifications and meet the sustainable development principles and Foster the use of Clean Development Mechanism established by Kyoto Protocol

PRINCIPLE No. 5:

Supporting energy conservation and energy efficiency programs as strategy for rationing of natural resources use and reduction of social-environmental impacts

PRINCIPLE No. 6:

Supporting scientific and technologic development applied to social-environmental issues related to the implementation and operation of energy enterprises.

PRINCIPLE No. 7:

Fostering implementation and continuous improvement of environmental management systems integrated to other corporate management systems.

List of current and former CEOs

Took office in	CEO	#
1962	Paulo Richer	1º
1964	José Varonil de Albuquerque Lima	2º
1964	Octavio Marcondes Ferraz	3º
1967	Mario Penna Bhering	4º
1975	Antonio Carlos Magalhães	5º
1978	Arnaldo Rodrigues Barbalho	6º
1979	Maurício Schulman	7º
1980	José Costa Cavalcanti	8º
1985	Mario Penna Bhering	9º
1990	José Maria Siqueira de Barros	10º
1992	Eliseu Resende	11º
1993	José Luis Alquéres	12º
1995	Mario Fernando de Melo Santos	13º
1995	Antônio José Imbassahy da Silva	14º
1996	Firmino Ferreira Sampaio Neto	15º
2001	Cláudio Ávila da Silva	16º
2002	Altino Ventura Filho	17º
2003	Luiz Pinguelli Rosa	18º
2004	Silas Rondeau Cavalcanti Silva	19º
2005	Aloísio Marcos Vasconcelos Novais	20º
2006	Valter Luiz Cardeal de Souza	21º
2008	José Antonio Muniz Lopes	22º
2010	José da Costa Carvalho Neto	23º

External links

• The company's home page in Portuguese
• The company's home page in English