Verene Energia (Verene), a power transmission platform, and its owner CDPQ, a global investment group, have announced an agreement with Equatorial S. A. to acquire its power transmission business unit, Equatorial Transmissao S.A., which owns and operates seven power transmission lines.
The transaction, expected to be worth $891.38 million, is CDPQ’s fourth investment in the power transmission sector in Latin America. The seven new assets, commissioned between 2019 and 2021, total 2,430 km in length and cover four Brazilian states in the North, Northeast and Southeast regions.
“With over 4,000 km of high-voltage lines in operation, Verene is gaining scale to play a role in meeting the decarbonization objectives for Brazil’s national grid,” said Emmanuel Jaclot, CDPQ’s Executive Vice-President and Head of Infrastructure.
Financial close is expected by December 2025 depending on customary closing conditions and relevant consents and approval. The concession period will expire in 2047.
