Leading Brazilian power generator MPX Energia SA has announced it has changed its name to ENEVA SA to reflect the stronger role being taken by E.ON in its management.
In March the German utility giant acquired 24.5 per cent of ENEVA’s shares owned by Brazilian entrepreneur Eike Batista, raising E.ON total equity in the company to 36.2 per cent.
A report by The Wall Street Journal Americas said that new investors were keen for the company to break free of MPX name, and a name change was a condition of Batista stepping down as chairman, which he did in July.
However, Batista is reported to still own a 29 per cent share in the company.
ENEVA is one of the largest privately-owned thermal power generators in Brazil.
It owns five power plants in operation with a combined installed generating capacity of 1780 MW in the states of Maranhao, Ceara, and Amapa, with an additional 1100 MW under construction.
ENEVA also operates the Taua solar power plant, the first of its kind in the country to be connected to the national grid, as well as the diesel-fired Amapari plant.
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