Copel wins 1.86 GW hydro capacity contracts

Companhia Paranaense de Energia (Copel) reports winning Brazil’s LRCAP 2026 capacity reserve auction for two hydro power plants, securing contracts for 1,862.8 MW of installed capacity over a 15-year term.

Rhea-AI Filing Summary

Companhia Paranaense de Energia (Copel) reports winning Brazil’s LRCAP 2026 capacity reserve auction for two hydro power plants, securing contracts for 1,862.8 MW of installed capacity over a 15-year term. Both the Foz do Areia and Segredo plants are scheduled to begin contracted operations in August 2030.

The projects involve estimated investments of R$ 1.3 billion for Foz do Areia and R$ 3.6 billion for Segredo, each with 70% leverage. Management states that these long-term contracts are aligned with Copel’s strategy to create value with controlled risks by strengthening portfolio competitiveness, operational flexibility and organic growth opportunities.

Insights

Infrastructure & utilities analyst

Copel locks in long-term hydro capacity contracts, adding leveraged growth projects.

Copel secured 15-year capacity contracts totaling 1,862.8 MW for its Foz do Areia and Segredo hydro plants, with operations slated from August 2030. This converts existing hydro capacity into contracted revenue visibility once operations under the new regime begin.

The company plans estimated investments of R$ 1.3 billion and R$ 3.6 billion with about 70% leverage, implying meaningful future capital deployment and higher balance-sheet gearing. Returns will depend on execution, construction and regulatory conditions, as well as hydrology over the life of the contracts.

Management frames these wins as part of a “high-value creation strategy with controlled risks,” emphasizing portfolio competitiveness and operational flexibility. Subsequent disclosures around financing structure, capex phasing and regulatory approvals will help clarify cash flow timing and risk-sharing as the projects move toward the planned 2030 start.

FAQ

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What did Copel (ELPC) announce in its March 2026 6-K?

Copel announced it won Brazil’s LRCAP 2026 capacity reserve auction for its Foz do Areia and Segredo hydro plants. The contracts cover 1,862.8 MW of installed capacity over 15 years, with operations under these terms starting in August 2030.

How much hydro capacity did Copel secure in the LRCAP 2026 auction?

Copel secured 1,862.8 MW of installed capacity through the LRCAP 2026 capacity reserve auction. This capacity comes from the Foz do Areia and Segredo hydro power plants and will be contracted for a 15-year term beginning with commercial operation in August 2030.

What are the planned investments for Copel’s Foz do Areia and Segredo projects?

Copel expects to invest about R$ 1.3 billion in the Foz do Areia plant and R$ 3.6 billion in the Segredo plant. Both investments assume approximately 70% leverage, indicating significant use of debt funding for these long-term hydro capacity projects.

When are Copel’s new hydro capacity contracts expected to start operating?

The capacity contracts for Copel’s Foz do Areia and Segredo hydro power plants are expected to start in August 2030. Both plants share the same estimated start date, with a 15-year power generation term under the LRCAP 2026 auction framework.

How does Copel describe the strategic impact of the LRCAP 2026 results?

Copel describes the contracted projects as another step in a high-value creation strategy with controlled risks. Management says the auction win strengthens portfolio competitiveness, enhances operational flexibility, supports organic growth, and increases the value of existing assets within its hydro generation portfolio.

What leverage level is planned for Copel’s new hydro investments?

Copel plans to finance both the Foz do Areia and Segredo hydro projects with estimated leverage of 70%. This means about 70% of each project’s investment, R$ 1.3 billion and R$ 3.6 billion respectively, is expected to be funded with debt rather than equity.

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Form 6-K: How Foreign Companies Report to the SEC →

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Accepted by SEC EDGAR 03/18/2026 - 08:44 PM Learn about SEC filing dates

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 1-14668

COMPANHIA PARANAENSE DE ENERGIA

(Exact name of registrant as specified in its charter)

Energy Company of Paraná

(Translation of Registrant's name into English)

José Izidoro Biazetto, 158
81200-240 Curitiba, Paraná
Federative Republic of Brazil
+55 (41) 3331-4011

(Address of principal executive offices)

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____

 

COMPANHIA PARANAENSE DE ENERGIA - COPEL

CNPJ 76.483.817/0001-20 - NIRE 41300036535 - CVM Registration no. 1431

B3 (CPLE3) / NYSE (ELPC) / LATIBEX (XCOPO)

COPEL wins capacity reserve auction with two hydro power plants

COPEL (“Company”) hereby informs its shareholders and the market in general that it has been successful in the Capacity Reserve Auction in the form of Power, referred to as LRCAP 2026 (“Auction” or “LRCAP”). On this date, the Company was declared the winner for the sale of the Power product, contributing a total of 1,862.8 MW of installed capacity to be contracted for a 15-year term, with fixed gross revenue set at R$ 963.2 million/MW/year for the Foz do Areia Hydro Power Plant (“FDA”) and R$ 1,635.4 million/MW/year for the Segredo Hydro Power Plant (“Segredo”). The start of operations is scheduled for August 2030 for both FDA and Segredo.

The table below provides additional information on the projects:

	FDA HPP	Segredo HPP
Installed capacity available for LRCAP (MW)1	690.470	1,172.344
Physical guarantee related to expansion (average MW)2	20.6	56.3
Power generation term	15 years	15 years
Estimated start of operation	August 2030	August 2030
Contracted gross price (R$ thousand/MW/year)3	R$ 1,395.00	R$ 1,395.00
Estimated investment (R$ billion – Base Date Mar/26)	R$ 1.3	$3.6
Estimated leverage	70%	70%
Transmission System Usage Fee – TUST (R$/kW/month)4	R$ 5.75 – R$ 6.10	R$ 6.73 – R$ 7.19

¹Total installed capacity adjusted by the Capacity Availability Factor (FDispCap) for the Segredo project, and by the Reference Storage parameter for the Foz do Areia project; ²Energy available for sale in the Free Contracting Environment (ACL); ³Amount to be updated annually based on the variation of the IPCA index, with a base date of September 2025; ⁴Amount to be updated annually based on the variation of the IPCA and/or IGPM indices, with a base date of June 2025, and calculated over the project’s total installed capacity – 860 MW for Foz do Areia and 1,266 MW for Segredo.

The contracted projects represent another step in the execution of the Company’s high-value creation strategy with controlled risks, as they strengthen the competitiveness of the portfolio, enhance the system’s operational flexibility, create opportunities for organic growth, and increase the value of existing assets.

Curitiba, March 18, 2026

Felipe Gutterres

Vice President of Finance and Investor Relations

For further information, please contact the Investor Relations team:
ri@copel.com or (41) 3331-4011

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 18, 2026

COMPANHIA PARANAENSE DE ENERGIA – COPEL
By:	/S/  Daniel Pimentel Slaviero
	Daniel Pimentel Slaviero Chief Executive Officer

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.