J&F-controlled Âmbar to spend $5.5 billion on Amazonas power grid until 2031

J&F Energia, a family-controlled group also known for owning JBS, announced plans to invest R$ 5.5 billion ($1.05 billion) in the Amazonas state's electrical network through its subsidiary Âmbar Energia by 2031. The company presented these investment details during a public session at the Amazonas Legislative Assembly last week. According to a formal statement from Âmbar, R$ 3.9 billion of this total budget will be funded through private capital, while the remaining amount will come from federal government transfers, specifically under the 'Light for All' program. Âmbar Energía began distributing electricity in Amazonas after acquiring Amazonas Energia from Eletrobras in 2024. The asset was previously part of Axia, a state-owned holding company that was privatized in 2022 as part of an exit strategy where it sold 13 thermal power plants for R$ 4.7 billion ($867 million). Âmbar assumed the distribution concession in April this year. The company stated it took over a system with structural problems and significant aging infrastructure. João Pilla, president of Amazonas Energia, told state deputies that the utility had faced operational difficulties for several years prior to the acquisition.