Eletrobras announced this Wednesday (22) that it is undergoing a process of rebranding – change of name and visual identity – and is now called Axia Energia. 
The company is the largest renewable energy company in the Southern Hemisphere and accounts for 17% of the national generation capacity and 37% of the total transmission lines in the National Interconnected System (SIN). Now Axia has 81 plants, 47 of which are hydro, 33 wind and one solar.
According to a statement released by the company, Axia “comes from the Greek and means ‘value’, it carries the idea of an axis – of connection, articulation and centrality”.
The company emphasizes that the brand change does not imply any change in contractual, business or regulatory commitments.
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Privatization
Founded in 1962, the company was state-owned until 2022, when it completed the privatization process, during the government of Jair Bolsonaro.
In a letter signed by the company’s president, Ivan Monteiro, the executive explains that the change “reflects a profound transformation movement that the company has experienced in the last three years and also its business challenges”.
“We evolved our governance, expanded investments, strengthened our structure and repositioned ourselves to respond to a sector in transition, marked by new technologies, regulatory changes and new consumption patterns”, he says.
Even with the privatization, the government maintained its shareholding and board of directors in the company.
Currently, the so-called Government Group, made up of shareholders such as the Union, National Bank for Economic and Social Development (BNDES), Banco do Nordeste, BB Asset, Caixa Asset, pension funds from Petrobras (Petros) and Banco do Brasil (Previ), holds 41.4% of Axia’s total shares and 14% of preferred shares (with voting power).
During the privatization process, the government allowed workers to invest part of the balance of the Service Time Guarantee Fund (FGTS) in Eletrobras shares, traded on the stock exchange with the code (ticker) ELECT. From November 10th, the papers will receive the ticker AXIA.
THE Brazil Agency contacted the Ministry of Mines and Energy and is awaiting a position on the name change.
Sale of Eletronuclear
Last Wednesday (15), the company sold all stake (68% of total shares) held in Eletronuclear, the company responsible for the Angra dos Reis Nuclear Complex, on the south coast of Rio de Janeiro. The buyer was Âmbar Energia, from the J&F Group, owned by brothers Joesley and Wesley Batista.
