Ambar Energia, a major Brazilian electric utilities company, agreed to acquire the thermoelectric portfolio of Electrobras, an electric utility company in São Paulo, Brazil, for $878m. The sale of the assets is the result of a competitive process, with high engagement, which began in July 2023. The result of the process enabled the Electrobras to maximize the valuation of its assets with adequate risk allocation, immediately eliminating the impacts of default related to energy sales contracts.