Eletrobras

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Centrais Elétricas Brasileiras S.A.
Type Sociedade Anônima
Traded as BM&F BovespaELET3
NYSEEBR
BMADXELTO
Industry Electricity
Founded 1962 (1962)
Headquarters Brasília, Brazil
Key people José da Costa Carvalho Neto (Chairman)
Miguel Colasuonno (CEO)
Products Electrical power
Services Electricity distribution
Electric power transmission
Revenue Decrease US$ 10.0  billion (2013)
Net income Decrease - US$ 2.6 billion (2013)
Owners Brazilian Government (52%)
Employees 25,809
Website www.eletrobras.com

Eletrobras (Portuguese pronunciation: [eˌlɛtɾoˈbɾas], full name: Centrais Elétricas Brasileiras S.A.) is a major Brazilian electric utilities company. 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. Eletrobras holds stakes in a number of Brazilian electric companies, so that it generates about 40% and transmits 69% of Brazil's electric supply. The company's generating capacity is about 43,000 MW, mostly in hydroelectric plants. The Brazilian federal government owns 52% stake in Eletrobras, rest of shares are 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 are located in Rio de Janeiro.

History[edit]

Eletrobras was established in 1962 during João Goulart's presidency.

Operations[edit]

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

Eletrobras is an electric power holding company. It is the largest generation and transmission company in Brazil. Through its subsidiaries it owns about 40% of Brazil's generation capacities and controls 69% of the National Interconnected System.[1]

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

Subsidiaries[edit]

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

International activities[edit]

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[clarification needed] 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.

List of current and former CEOs[edit]

Took office in CEO #
1962 Paulo Richer
1964 José Varonil de Albuquerque Lima
1964 Octavio Marcondes Ferraz
1967 Mario Penna Bhering
1975 Antonio Carlos Magalhães
1978 Arnaldo Rodrigues Barbalho
1979 Maurício Schulman
1980 José Costa Cavalcanti
1985 Mario Penna Bhering
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

References[edit]

External links[edit]