Eneva, one of Brazil's largest private power generators, is the frontrunner to replace Evolution Power Partners (EPP) in a federal capacity-reserve auction if the electricity regulator upholds EPP's disqualification, Chief Executive Lino Cançado said in a televised interview on Wednesday.
Brazil's National Electric Energy Agency (Aneel) auction committee, known as the CPL, disqualified EPP-led consortia representing about 1.7 gigawatts of contracted capacity after ruling they failed to prove the economic-financial qualification required by the tender. EPP is contesting the decision.
If the disqualification stands, the next ranked bidders — Eneva and Global Participações em Energia — would be invited to assume the contracts, in order of their original auction ranking.
Tight timeline for 2028 deliveries
Cançado told CNN Brasil's Alta Voltagem program that the window to execute the projects has shrunk from two-and-a-half years to less than two. He said securing turbines, contracting construction firms, and obtaining environmental licenses in that period will be difficult.
"Certainly the projects will suffer delays," Cançado said. "And then there will be a discussion about how much additional time Aneel will grant the newly habilitated companies so they can organize and deliver."
He added that Eneva could meet 2029 delivery targets comfortably because the company already holds positions in the global equipment market. Deliveries for 2028 are also feasible but face additional hurdles and a high likelihood of slippage.
Market position and supply chain
Cançado cited Eneva's financial strength and supplier relationships as advantages. The company is the largest South American customer of GE Vernova and also buys from Siemens Energy. Eneva also has internally developed projects that could qualify for the capacity contracts, he said.
Competing interest from J&F's Âmbar
The Batista family's J&F group, through its energy arm Âmbar Energia, has also signaled interest. CNN Brasil reported exclusively that Âmbar signed a purchase option on selected EPP projects from the auction.
System risk if capacity not replaced
Cançado warned that further delays in finalizing the contracts could jeopardize Brazil's power supply. The system already faces a known capacity shortfall for 2028.
"If this isn't resolved quickly and there isn't an entrepreneur with the capacity and reliability to deliver, the next government — whoever it is — will already enter office with this problem to solve," he said.