1997
AES starts the Uruguaiana project, whose total investment amounted to US$ 375 million, 100% of which with resources of its own.
Acquisition of Companhia Centro-Oeste de Distribuição de Energia Elétrica, that moved on to be called AES Sul – Distribuidora Gaúcha de Energia S.A., with total investment of R$ 1,5 billion.
1998
Privatization of Eletropaulo – Metropolitana Eletricidade de São Paulo S.A. for R$ 2 billion, R$ 1 billion of which financed by the BNDES (National Bank for Economic and Social Development). Buyer consortium comprised of AES, EDF, CSN and Reliant Energy.
Foundation of AES Eletropaulo Telecom.
1999
Companhia de Geração de Energia Elétrica Tietê that moved on to be called AES Tietê, with total investment of R$ 938 million.
Creation of AES Communications Rio de Janeiro (AES Com Rio).
2000
Start of operations of the AES Uruguaiana thermal plant.
Acquisition, by AES Transgás, of 64% of Eletropaulo preferred shares, via auction for forward stocks with the BNDES, in the amount of US$ 565 million.
2001
AES increases its stake in AES Tietê (+ 9.6% of the total capital), through a US$ 59 million public offering by the company co-workers.
Organization of AES Infoenergy.
2002
AES increases its stake in Eletropaulo following an agreement with EDF, under which AES moves on to indirectly hold 68.6% of Eletropaulo common shares.
2003
Creation of Companhia Brasiliana de Energia and realization of a shareholders agreement with the BNDES, under which the bank moves on to hold 53.8% of the Company’s total capital and 49.9% of the voting capital.
AES structures US$ 1,2 billion debt owed to the BNDES:
- US$ 600 million converted into a BNDES shareholding in Companhia Brasiliana de Energia;
- US$ 510 million in issuance of debentures subscribed by the BNDES;
- US$ 90 million paid by AES to the BNDES.
2005
Secondary offering of AES Tietê shares in the amount of R$ 1,1 billion, by Banespa, Santander and Nossa Caixa, representing 28.4% of the total capital.
2006
Restructuring of Companhia Brasiliana de Energia and elimination of holding companies.
Eletropaulo secondary offering, in the amount of US$ 612 million, fully used in the pre-payment of the debt owed to the BNDES.
2007
AES Tietê is granted a license for the construction of three small hydropower plants (PCHs) in the State of Rio de Janeiro, with total investment of R$ 250 million in two years.
BNDESPAR (BNDES Participações) starts a process to dispose of its stake in Companhia Brasiliana de Energia.