RIO DE JANEIRO, BRAZIL - Equatorial Energia is a strong candidate, alongside Oliveira Energia, to bid for state-owned Amapá electricity distribution company in a privatization auction scheduled for June 25, Bank of America said in a report to clients on Wednesday, June 16.
The Electricity Company of Amapá (CEA) has a regulatory asset base of R$434 (US$85.8) million considering the year 2021, and serves a population of 880,000.
"The opportunity: the virtually zero minimum price (R$50,000) reflects operations that drain cash (approximately R$100 million negative EBITDA a year) and liabilities (R$3.9 . . .