Equatorial Energy, a Brazilian energy company, has bought Companhia de Eletricidade do Amapa (CEA), northern Amapa state electric utility, in a privatization auction organized by BNDES on June 18, 2021.

The company was the only bidder in the auction and privatized 100% of CEA for BRL50,000 reais (US$9,878.51). In addition, Equatorial has agreed to invest BRL3 billion (US$592.7 million) during the next 30 years with the aim to provide electricity in Apama state on the border with French Guiana. Around 830,000 residents will benefit from this initiative.