Ambar completes $263 million deal for EDF's Brazil thermal assets

Electricite de France SA

16/03/2026 12:48

SAO PAULO, March 15 (Reuters) - Brazilian energy firm Ambar Energia has completed the acquisition of French utility EDF's Rio de Janeiro thermal power plant and a project to build a second one, the companies said on Monday.

EDF said the deal for the Norte Fluminense plant and the Norte Fluminense 2 project, initially announced in December but whose price had not been previously disclosed, was valued at about 1.4 billion reais ($263 million).

With the addition of the thermal power plant, Ambar Energia's installed capacity now exceeds 7 gigawatts (GW), the company said, adding its portfolio now includes 56 power generation units across 12 Brazilian states.

The assets span hydroelectric, solar, biomass, biogas, natural gas, fuel oil, and coal plants.

With the acquisition, Ambar CEO Marcelo Zanatta said in a statement, "we expand our presence in the Southeast, a strategic region for the power sector because it is home to the country's largest energy-consuming centers."

Ambar is controlled by J&F, the holding company owned by Brazil's billionaire Batista brothers.

($1 = 5.3232 reais)

 (Reporting by Luciana Magalhaes; Editing by Gabriel Araujo)

 ((Luciana.NovaesMagalhaes@thomsonreuters.com;))