ENERGO-PRO has completed the acquisition of a hydropower plant in Brazil – the largest Czech investment in South America

Published on 23.10.2025

ENERGO-PRO has completed the acquisition of a hydropower plant in Brazil – the largest Czech investment in South America

Czech company ENERGO-PRO a.s. has obtained all necessary regulatory approvals and completed the acquisition of a 100% stake in the large Baixo Iguaçu hydropower plant in Brazil with a total capacity of 350 megawatts. The purchase price for the power plant, built in 2019 on the Iguaçu River in the state of Paraná, exceeds CZK 6.4 billion (EUR 260 million). This makes the transaction the largest Czech investment in South America in history. Baixo Iguaçu is now the largest power plant in the ENERGO-PRO group in terms of installed capacity.

The completion of the acquisition represents another milestone in the company's strategic expansion in Latin America. The successful acquisition of seven smaller power plants with a total capacity of 90 MW in 2024 is now followed by the acquisition of a modern, efficient hydropower plant with long-term purchase agreements. The company is also building a new hydropower plant, Chorreritas, in Colombia, which is expected to be commissioned in 2026.

"The growth of our portfolio in Latin America is a strategic step in the geographical diversification of our group. This strengthens our resilience to hydrological, geopolitical, and economic fluctuations," said Jakub Fajfr, CEO of ENERGO-PRO. 

With the acquisition of the Baixo Iguaçu hydropower plant, ENERGO-PRO Group's installed capacity amounts to 1,850 MW, which is similar to the capacity of four units of the Mochovce nuclear power plant in Slovakia. The company now operates 54 hydropower plants in five countries around the world – Bulgaria, Georgia, Türkiye, Spain, and Brazil.

 

Financing of the Acquisition and Green Bonds

The acquisition of the Baixo Iguaçu hydropower plant from Brazilian company COPEL was financed from a combination of cash on hand and external financing. In the first half of 2025, ENERGO-PRO successfully issued green Eurobonds worth EUR 750 million, maturing in 2030 with an 8% coupon. The proceeds from the bonds were used to finance the acquisition of Baixo Iguaçu and to optimize the group's capital structure.

"The successful issuance of our first green Eurobond has provided us with a stable foundation for further growth and development in the field of clean energy," added Jakub Fajfr.

Basic information about the Baixo Iguaçu hydropower plant:

  • Commissioning: 2019
  • Installed capacity: 350 MW
  • Annual generation: 1,584 GWh
  • Turbine type: 3 x Kaplan
  • Size of the reservoir: 32 km2
  • Length of the transmission line: 60 km
  • Concession validity: until 2049
  • Construction investment (2014-2019): approx. EUR 500 mil.
  • Purchase price: BRL 1,683 mil.

The power plant regulates the flow of the iconic Iguaçu Falls and ensures minimum flow even during periods of drought. It supplies clean, affordable, and renewable energy to approximately one million people in Brazil, which corresponds to 8% of the annual consumption of the state of Paraná.

More information at: https://baixoiguacu.com.br

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