Engie Brasil to buy 40% stake in Jirau hydroelectric plant from Mitsui consortium

Under the deal, Engie Brasil will lift its overall stake in Jirau to 80% by adding the new 40% block to the slice it already operates. The plant ranks as Brazil's second-largest hydroelectric facility with 3,750 megawatts of installed capacity, providing about 4% of the country's annual power generation. The seller said the Asian infrastructure funds were trimming portfolios as exit options weakened.

The transaction value was not disclosed, but local media cited a figure near $3 billion. Engie Brasil shares rose more than 2% on the São Paulo exchange after the announcement. The company said the acquisition responded directly to surging baseload power demand from AI data centres, with new hydroelectric capacity unlikely to come up for sale in the next decade.

Approvals are required from the antitrust regulator CADE and the energy regulator ANEEL. The government is cautious about further consolidation of domestic renewable infrastructure, although officials at the energy ministry said the deal strengthened the power-security position. Closing is expected by the autumn of 2026.