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Neoenergia SA (GNAN3B.SO)

GNAN3B.SO on Rio de Janeiro over the counter Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Iberdrola buys remaining 50 pct of Forca Eolica do Brasil 1 and 2
Friday, 24 Feb 2017 06:55am EST 

Iberdrola SA : Enters into agreement with Neoenergia to buy remaining 50 percent of companies Forca Eolica do Brasil (FEB) 1 and 2 for about 98 million euros ($103.94 million) .Says given its 39 percent stake in Neoenergia, the transaction will not have major impact on the Group's consolidated financial statements.  Full Article

Neoenergia SA announces debenture issue
Friday, 1 Apr 2016 07:56am EDT 

Neoenergia SA:Says on March 3 its board approved issuance of simple, non-convertible, unsecured debentures with additional financial guarantee, in the total amount of 100.0 million Brazilian reais.Says debentures to be distributed to public on a restricted efforts basis and with firm guarantee of placement.  Full Article

Neoenergia SA - Brazil court suspends Amazon hydrodam license on native demands - Reuters
Thursday, 14 Jan 2016 02:54pm EST 

Neoenergia SA:A Brazilian court suspended the operating license for the Belo Monte hydroelectric dam, just weeks before owner Norte Energia SA planned to start electricity generation, prosecutors said on Thursday - RTRS.Judge Maria Carolina Valente do Carmo of the Federal Court in Altamira, Para, said the license will be suspended until Norte Energia and Brazil's government meet a previous license requirement to reorganize the regional office of Funai, the national Indian protection agency - RTRS.A judge had already ordered the government and Norte Energia to carry out the Funai restructuring work in 2014, so Valente do Carmo also fined the government and the company 900,000 reais ($225,000) for non-compliance - RTRS.Belo Monte will have an installed capacity of 11,233 megawatts. Its average output, though, will only be about a third of that as the original reservoir was greatly reduced at the request of native groups and environmentalists. - RTRS.These critics objected to the dam blocking one of the last free-flowing major tributaries of the Amazon. They also opposed an early reservoir plan that would have flooded thousands of square kilometers of virgin rain forest - RTRS.Norte Energia, which is building and will operate the dam, is a consortium led by Brazil's state-run utility Centrais Eletricas Brasileiras; Centrais Eletricas de Minas Gerais; Brazil's Neoenergia SA and Vale SA - RTRS.  Full Article

Exclusive: Neoenergia seeks $11 billion valuation in Brazil, U.S. IPO, sources say

SAO PAULO Neoenergia SA, whose takeover of a smaller rival will turn it into Brazil's No. 1 power utility by customers served, is working on a dual initial public offering in São Paulo and New York that could value it at around 35 billion reais ($11 billion), three people with direct knowledge of the plan said.

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