Celpa Seeks Additional Equity Capital

Brazil’s Centrais Eletricas do Para (Celpa) has approved the raising of BRL2bn ($837m) in new equity capital, according to a regulatory document. The funds will come through the issuing of new ordinary shares. Details including timing and whether or not the capital raise is to include a public sale, remain to be determined. Equatorial Energia purchased the then-indebted Celpa from Grupo Rede last year, and raised fronds to capitalize Celpa through a BRL1.42bn equity follow on.