Brazil generator Eneva files for bankruptcy

Brazilian generator Eneva has requested bankruptcy protection after failing to strike a debt restructuring deal with creditors, according to Business News Americas.

The announcement came as the company suspended payments related to its $890 million debt, Eneva said in a statement.

“[This] aims to preserve adequate cash flow to continue the company’s operations, which have shown continued improvement,” the Rio de Janeiro-based firm said.

The company said it plans to submit a judicial recovery plan within 60 days of the filing’s acceptance.

Once a part of Eike Batista’s EBX empire, Eneva is now controlled by Germany’s E.On.

Eneva operates seven thermoelectric power plants and has a stake in onshore gas blocks in the Parnaíba basin in Brazil’s northeast.

Previous articleDuke Energy wins FERC approval to buy NCEMPA power plants
Next articleDTE Energy turns vacant building into energy efficient office space

No posts to display