Czech Company’s Major Investment in South America Indicates Continent is Targeted by Global Powers.
For the first time, a Czech company takes center stage. The Energo-Pro group, specialized in hydroelectric generation, has acquired 100% of the Baixo Iguaçu plant, located on the Iguaçu River in the Brazilian state of Paraná. With a capacity of 350 megawatts, the facility not only becomes the most powerful in the group but also symbolizes Energo-Pro’s international expansion. The operation, valued at over 260 million euros, was financed through a combination of own funds and external financing, solidifying the company as a key player. The project represents a qualitative leap in the group’s diversification, which until now had focused its activities in Eastern Europe, Turkey, and Spain.
### An operation that strengthens the Czech presence in the region
According to its CEO, Jakub Fajfr, the acquisition of Baixo Iguaçu “represents a strategic step in the group’s geographical diversification and reinforces its resilience to hydrological, geopolitical, and economic fluctuations.” With this purchase, Energo-Pro’s total installed capacity rises to 1,850 MW, spread across 54 hydroelectric plants in five countries: Bulgaria, Georgia, Turkey, Spain, and Brazil. The Brazilian plant, previously owned by COPEL, regulates the flow of the Iguaçu River, ensuring the electricity supply to nearly a million people, equivalent to 8% of Paraná state’s annual consumption. The operation also consolidates Xeal’s presence, the Spanish subsidiary of the group, as a platform for expansion in the eurozone and as financial support for new investments.
### Green financing and sustainable expansion
Energo-Pro supported the purchase through the issuance of 750 million euros in green bonds, maturing in 2030 with an 8% coupon. The funds raised were allocated to the acquisition of Baixo Iguaçu and optimizing the company’s capital structure. “The success of our first green bond has provided us with a stable foundation to continue growing in the field of clean energy,” stated Fajfr. This strategy reinforces the group’s position in the sustainable financing sector, aligning with the increasing international demand for investments with a positive environmental impact.
### From Galicia to the Amazon: the role of Xeal
In Spain, Energo-Pro made its entrance in 2023 with the acquisition of Xallas Electricidad y Aleaciones (Xeal), which operates ten hydroelectric plants in Galicia with a combined capacity of 167 MW, in addition to two ferroalloy plants. Since its incorporation, Xeal has promoted strategic industrial modernization projects in the region and serves as the European anchor point for the group, contributing generation in euros and business diversification. Energo-Pro’s goal is clear: to combine European technical expertise with the vast hydroelectric potential in Latin America, a market that remains one of the most attractive for energy transition.
### Next step: Colombia
In addition to the acquisition in Brazil, the company is already constructing a new hydroelectric plant in Colombia, named Chorreritas, set to start operating in 2026. With this project, Energo-Pro aims to solidify a regional renewable generation network, allowing for balanced operations between Latin America and Europe. This move not only positions the group as a leader in clean energy but also opens the door to new financial partnerships within the global energy transition framework.
