Eneva

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Eneva S.A.
Type Sociedade Anônima
Traded as BM&F BovespaMPXE3
Industry Electricity
Founded 2001 (2001)
Headquarters Rio de Janeiro, Brazil
Key people Jørgen Kildahl, (Chairman)
Eduardo Karrer, (CEO)
Products Electric power
Services Electricity distribution
Revenue Increase US$ 608.5 million (2013)
Profit Decrease - US$ 399.8 million (2013)
Parent E.ON
Website www.eneva.com.br

Eneva (former name: MPX Energia S.A.) is a power generation company based in Rio de Janeiro, Brazil. It is a subsidiary of E.ON and it is listed at the São Paulo exchange. In addition to Brazil, Eneva has power generation assets in Chile and coal mining assets in Colombia.

History[edit]

Eneva was founded in 2001 as MPX Energia. In January 2012, German energy utility E.ON agreed to buy a 10% stake in MPX for US$350 million. Eneva and E.ON also agreed to create an equally owned joint venture. Eneva will transfer its 11 power projects with licences for 11,000 MW of generating capacity into the joint venture.[1][2] In March 2013, it was agreed that E.ON will increase its stake up to 36.2%.[3]

Power generation[edit]

Eneva is developing a thermal power plant in Ceará, Brazil, in partnership with MDU Resources Group, Inc. Together with EDP-Energias do Brasil MPX is building the 720 MW Pecem power plant.[4] It is also building 360 MW Pecem II power plant and 360 MW Itaqui power plant, both coal-fired. MPX has also proposed 720 MW coal-fired Sul power plant, 600 MW coal-fired Seival power plant and 2,100 MW coal-fired Acu power plant with a 3,300 MW natural gas-fired expansion.

In Chile, the company plans to build the 2,100 MW Castilla coal-fired power plant.[5] The plan was approved by the Chile environmental authorities; however, the approval was annulled by the appeals court of Antofagasta.[6]

In the field of renewable energy, the company has partnered with the Chinese solar power company Yingli for the development of Tauá solar plant, State of Ceará. The plant has installed capacity of 1 MW and MPX is planning to increase the capacity up to 50 MW.[7]

Coal mining[edit]

Eneva has coal mining rights in Colombia and a 70% stake in the Seival coal mine in southern Brazil. Through MPX Columbia it develops Canaverales coal mine in northern Colombia.[8] The project includes Reeds, Papayal and San Benito open pit mines and the San Juan underground mine.[9] The mining complex is expected to become operation by 2014.[8] For coal export it develops the coal terminal at a 521 hectares (1,290 acres) site on Atlantic coast in Dibulla, La Guajira. In addition to the terminal a 150-kilometre (93 mi) railroad will be built from the coal mine to the terminal.[10] MPX had announced a plan spin off its coal mining assets in Colombia to form a new company called Colombian Coal (CCX), which will be listed on the São Paulo stock exchange.[1]

Together with OGX, Eneva has 70% stake in seven natural gas exploration blocks in Maranhão.

References[edit]

  1. ^ a b Wiesmann, Gerrit; Pearson, Samantha (2012-01-11). "Eon to buy 10% stake in Brazil’s MPX Energia". Financial Times. Retrieved 2012-04-06. 
  2. ^ Schneyer, Joshua (2012-01-11). "E.ON enters Brazil with $471 million MPX stake buy". Reuters. Retrieved 2012-04-06. 
  3. ^ Parra-Bernal, Guillermo; Blount, Jeb (2013-03-28). "E.ON tosses a lifeline to Brazil's Batista with MPX purchase". Reuters. Retrieved 2013-03-29. 
  4. ^ Brasileiro, Adriana (2012-01-25). "EDP, MPX Say Regulator Approved Delay of Pecem Thermo Plant". Bloomberg. Retrieved 2012-04-06. 
  5. ^ Craze, Matt (2011-02-25). "Chile Regulator Approves MPX's $4.4 Billion Coal Project". Bloomberg. Retrieved 2012-04-06. 
  6. ^ Fowler, James (2012-03-07). "MPX to challenge court ruling against 2.1GW Castilla coal project". Business News Americas. (subscription required). Retrieved 2012-04-06. 
  7. ^ Place, Michale (2012-03-09). "MPX expands solar ambitions". Business News Americas. Retrieved 2012-04-06. 
  8. ^ a b Walsh, Heather; Spinetto, Juan Pablo (2012-02-09). "MPX Delays $4 Billion Colombia Coal Project Amid Price Drop". Bloomberg. Retrieved 2012-04-06. 
  9. ^ "MPX abrirá a la bolsa mina de Colombia, propiedad de Eike Batista, empresario brasilero" [MPX bag open for Colombia mine, owned by Eike Batista, Brazilian businessman]. Portafolio (in Spain). 2010-02-09. Retrieved 2012-04-06. 
  10. ^ "MPX to build US$150mn coal port". Business News Americas. 2010-01-21. Retrieved 2012-04-06.