Eletrobras (AXIA) secures 190 MW, R$1B Luiz Gonzaga hydro expansion

Rhea-AI Filing Summary

Centrais Elétricas Brasileiras S.A. – Eletrobras, through AXIA Energia Nordeste, secured 190.129 MW of firm capacity in Brazil’s 2026 Capacity Reserve Auction for the Luiz Gonzaga (Itaparica) hydro plant expansion.

The contract price is R$ 1,400,000 per MW per year, with supply starting on August 1, 2031 under a 15‑year term. The company plans to invest about R$ 1.0 billion to build a new generating unit, adding 246.6 MW of installed capacity at the plant. Management states that this result reinforces AXIA Energia’s leading role in renewable generation and its focus on disciplined capital allocation.

Insights

Infrastructure & Utilities Analyst

Long-term contracted hydro capacity supports visibility but requires sizable capex.

Eletrobras, via AXIA Energia Nordeste, obtained 190.129 MW of capacity at Luiz Gonzaga HPP in the 2026 capacity auction. The contract, priced at R$ 1,400,000 per MW-year, begins on August 1, 2031 and runs for 15 years, creating a long-duration revenue stream tied to regulated capacity payments.

The company expects to invest about R$ 1.0 billion to build a new generating unit, adding 246.6 MW of installed capacity. This links a meaningful capex commitment to contracted remuneration, which can help balance risk and return for a large hydro-based portfolio when execution and cost control are effective.

Management highlights that the auction win strengthens AXIA Energia’s leading position in renewable generation and aligns with a focus on capital allocation discipline. Future disclosures on construction progress, capex phasing, and any regulatory updates around the capacity mechanism will further clarify financial impacts as the 2031 supply start approaches.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

For the month of March, 2026

Commission File Number 1-34129

CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS

(Exact name of registrant as specified in its charter)

BRAZILIAN ELECTRIC POWER COMPANY

(Translation of Registrant's name into English)

Rua da Quitanda, 196 – 24th floor,
Centro, CEP 20091-005,
Rio de Janeiro, RJ, Brazil

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No___X____

 

AXIA Energia secures contract in the 2026 capacity auction

Rio de Janeiro, March 19 , 2026 – Centrais Elétricas Brasileiras S/A – Eletrobras (“Company” and “AXIA Energia”) and AXIA Energia Nordeste S.A. (“AXIA Energia Nordeste”) informs that it successfully acquired 190.129 MW of capacity in the 2026 Capacity Reserve Auction – LRCAP, promoted by the National Electric Energy Agency and the Electric Energy Trading Chamber, in accordance with the guidelines set forth by the Ministry of Mines and Energy, held on March 18, 2026, as per the table below.

Company	Power Plant	Price (R$/MW.year)	Contracted Capacity (MW)	Supply start date	Term
AXIA Energia Nordeste	Expansion Luiz Gonzaga (Itaparica) HPP	1,400,000	190.129	08/01/2031	15 years

The investment amount is approximately R$ 1.0 billion, allocated to the construction of a

new generating unit at the Luiz Gonzaga Hydroelectric Power Plant, with an additional 246.6 MW of installed capacity.

With the auction result, AXIA Energia strengthens its leading position in the renewable energy generation market, with a focus on capital allocation discipline.

Eduardo Haiama

Vice President of Finance and Investor Relations

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: March 19, 2026

CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS
By:	/S/ Eduardo Haiama
	Eduardo Haiama Vice-President of Finance and Investor Relations

FORWARD-LOOKING STATEMENTS

This document may contain estimates and projections that are not statements of past events but reflect our management’s beliefs and expectations and may constitute forward-looking statements under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. The words “believes”, “may”, “can”, “estimates”, “continues”, “anticipates”, “intends”, “expects”, and similar expressions are intended to identify estimates that necessarily involve known and unknown risks and uncertainties. Known risks and uncertainties include, but are not limited to: general economic, regulatory, political, and business conditions in Brazil and abroad; fluctuations in interest rates, inflation, and the value of the Brazilian Real; changes in consumer electricity usage patterns and volumes; competitive conditions; our level of indebtedness; the possibility of receiving payments related to our receivables; changes in rainfall and water levels in reservoirs used to operate our hydroelectric plants; our financing and capital investment plans; existing and future government regulations; and other risks described in our annual report and other documents filed with the CVM and SEC. Estimates and projections refer only to the date they were expressed, and we do not assume any obligation to update any of these estimates or projections due to new information or future events. Future results of the Company’s operations and initiatives may differ from current expectations, and investors should not rely solely on the information contained herein. This material contains calculations that may not reflect precise results due to rounding.

FAQ

What did AXIA Energia (AXIA) secure in the 2026 capacity auction?

AXIA Energia secured 190.129 MW of capacity at the Luiz Gonzaga Hydroelectric Power Plant in Brazil’s 2026 Capacity Reserve Auction. The contract provides long-term capacity payments, supporting revenue visibility once supply starts in 2031.

What are the main contract terms for AXIA Energia’s new capacity?

The contract covers 190.129 MW at a price of R$ 1,400,000 per MW-year. Supply is scheduled to begin on August 1, 2031, with a 15-year term, creating a long-duration, regulated cash flow profile for the contracted capacity.

How much will AXIA Energia invest in the Luiz Gonzaga HPP expansion?

AXIA Energia plans to invest approximately R$ 1.0 billion in the Luiz Gonzaga Hydroelectric Power Plant expansion. This funding will build a new generating unit and support the delivery of the contracted capacity obtained in the 2026 auction.

How much additional capacity will the Luiz Gonzaga expansion add?

The Luiz Gonzaga Hydroelectric Power Plant expansion is expected to add 246.6 MW of installed capacity. This increase supports the 190.129 MW of contracted capacity and enhances AXIA Energia’s renewable generation portfolio in Brazil’s hydroelectric segment.

When will AXIA Energia start supplying power under this new contract?

Supply under the new capacity contract is scheduled to start on August 1, 2031. From that date, AXIA Energia will receive capacity payments for 190.129 MW over a 15-year period, subject to applicable Brazilian regulatory conditions.

How does this auction result affect AXIA Energia’s market position?

The company states that winning capacity in the 2026 auction strengthens AXIA Energia’s leading position in renewable energy generation. It also highlights a continued focus on disciplined capital allocation while expanding contracted hydro capacity through the Luiz Gonzaga plant.