Company that controls hydroelectric plants in Amapá requests cancellation of license to receive tax benefits – News of Brazil
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Paulo Silva
From the Editor
The Ministry of Finance, Special Secretariat of the Federal Revenue of Brazil, published in the Official Gazette of the Union (DOU), edition of this Friday (16), a declaratory act canceling the qualification of the Cachoeira Caldeirão Energy Company in the tax benefits of the Special Regime of Incentives for Infrastructure Development (REIDI). The cancellation request was made by the company itself, which has a hydroelectric plant in Amapá, and is a 2021 process.
Reidi – Special Incentive Regime for Infrastructure Development aims to relieve taxes on the implementation of infrastructure projects. A beneficiary of Reidi is a legal entity that has an approved project for the implementation of infrastructure works in the transport, ports, energy, basic sanitation and irrigation sectors.
The cancellation, upon request, of the authorization, reinforces the news that Empresa Energias de Portugal (EDP) is even resuming the sale process of the Santo Antônio do Jari and Cachoeira Caldeirão hydroelectric plants, in Amapá.
A week before Carnival, the newspaper Valor published that Energias de Portugal had resumed the sale process of the Santo Antônio do Jari (392.95 megawatts) and Cachoeira Caldeirão (219 MW) hydroelectric plants, in the state of Amapá. According to newspaper sources, Bradesco BBI was hired as financial advisor in the transaction.
In October 2021, the company’s president, João da Marques da Cruz, had confirmed the sale of three hydroelectric plants, but of the assets that were available to the market, EDP (BOV:ENBR3) only finalized the sale of the Mascarenhas plant (198 MW ) to the British renewables investment fund Victory Hill for R$1.225 billion.
A second round of negotiations to sell Jari and Cachoeira Caldeirão took place with the Canadian fund CDPQ (Caisse de Dépôt et Placement du Québec), but the attempt failed, as the company did not find what it classified as “fair” sales conditions. When contacted, EDP declined to comment.
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