EDB has gained majority control of the 902.5MW Lajeodo, in Tocantins, through the asset swap by enabling its stake in the plant’s owner, Investco, to increase from 27.65% to 73%. The plant is operated under a 35-year concession contract that expires in 2032, and the swap also gives EDB a 73% share of the plant’s output.

The asset swap was announced in June and has achieved the necessary regulatory approvals.

Under the deal, Grupo Rede gave over its stakes in Investco and Rede Lajeado Energia that were own by its subsidiary Rede Energia, and also its holding through Rede Power in Tocantins Energia and also Rede Lajeado Energia.

Enersul is a distributor in the state of Mato Grosso do Sul.

EDB is a majority-controlled (64.8%) subsidiary of Energias de Portugal (EDP).