Petrobras wins 2,235 MW in Brazil capacity auction

Petróleo Brasileiro S.A. – Petrobras reports that eight thermoelectric plants from its portfolio were selected in Brazil’s 2026 Capacity Reserve Auction.

Accepted by SEC EDGAR 03/18/2026 - 07:53 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Petróleo Brasileiro S.A. – Petrobras reports that eight thermoelectric plants from its portfolio were selected in Brazil’s 2026 Capacity Reserve Auction. The plants together will provide 2,235 MW of firm capacity to the National Interconnected System under 10-year contracts, starting between August 2026 and August 2031, depending on the project. The company estimates about R$ 4 billion in annual fixed revenue from these contracts, supporting the economic viability of its thermal assets and reinforcing its role in the country’s electricity security.

Insights

Energy & infrastructure analyst

Petrobras secures 2.2 GW in long-term power contracts with sizable fixed revenue.

Petrobras contracted eight thermoelectric plants in the 2026 Capacity Reserve Auction, totaling 2,235 MW of firm capacity. Supply starts between 2026 and 2031 for 10-year terms, creating a long-duration revenue stream from power availability rather than energy dispatch volumes.

The company expects about R$ 4 billion in annual fixed revenue from these contracts. This helps monetize its gas-fired portfolio and underpins cash flows from otherwise cyclical generation assets. The filing also highlights a broader thermal portfolio of 4.9 GW across 13 plants.

Execution now depends on completing regulatory steps, including signing Capacity Reserve Contracts and proving firm fuel supply under Ministry of Mines and Energy rules, as well as meeting performance standards set by the National System Operator. Subsequent company disclosures can clarify realized returns as plants enter service on their scheduled start dates.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Petrobras (PBR) announce in its March 2026 Form 6-K?

Petrobras announced that eight thermoelectric power plants from its portfolio won contracts in Brazil’s 2026 Capacity Reserve Auction. These plants will provide firm capacity to the National Interconnected System under 10-year contracts, generating estimated annual fixed revenue of about R$ 4 billion.

How much capacity did Petrobras secure in the 2026 Capacity Reserve Auction?

Petrobras secured contracts for 2,235 MW of firm capacity across eight thermoelectric plants. Individual projects such as Macaé, Nova Piratininga and Seropédica contribute significant portions, with supply starting between 2026 and 2031 and each contract lasting ten years for the Brazilian grid.

What is the expected annual revenue from Petrobras’ LRCAP 2026 contracts?

Petrobras estimates about R$ 4 billion per year in fixed revenue from the auctioned capacity contracts. This revenue compensates the company for keeping its thermoelectric assets available to the electricity system, independent of actual energy dispatch, over the 10-year contract periods.

When will Petrobras’ contracted plants begin supplying capacity under LRCAP 2026?

The contracted plants will start supplying capacity on different dates: some from August 1, 2026, others from August 1, 2027, October 1, 2028, and August 1, 2031. Each plant’s contract then runs for ten years, providing long-term visibility on availability revenues.

How does the auction result fit Petrobras’ overall thermal power portfolio?

Petrobras states its thermal power portfolio includes 13 power plants with total capacity of about 4.9 GW, enough to supply roughly 21 million households. Twelve plants are already contracted in the electricity sector, and the new capacity contracts further strengthen portfolio utilization and revenue visibility.

What regulatory steps must Petrobras complete after the 2026 capacity auction?

After the auction, Petrobras must sign the Capacity Reserve Contracts (CRCAP), demonstrate firm fuel supply under Ministry of Mines and Energy ordinances, and meet operational and performance requirements defined by the National System Operator, ensuring plants can reliably provide the contracted firm capacity.

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UNITED STATES

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 1-15106

PETRÓLEO BRASILEIRO S.A. – PETROBRAS

(Exact name of registrant as specified in its charter)

Brazilian Petroleum Corporation – PETROBRAS

(Translation of Registrant's name into English)

Avenida Henrique Valadares, 28 – 9th floor 
20231-030 – Rio de Janeiro, RJ
Federative Republic of 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____

 

Petrobras announces results in the Capacity Reserve Auction

—

Rio de Janeiro, March 18, 2026 – Petróleo Brasileiro S.A. – Petrobras announces that it has contracted eight power plants from its thermoelectric energy portfolio in the 2026 Capacity Reserve Auction (LRCAP 2026), held today by Brazil’s National Electric Energy Agency (ANEEL) and the Electric Energy Trading Chamber (CCEE), with technical support from the Energy Research Company (EPE).

The auction aimed to contract firm capacity for the National Interconnected System (SIN), involving natural gas-fired and coal-fired thermal power plants, as well as expansions of hydroelectric plants, according to guidelines established by the Ministry of Mines and Energy (MME).

Table – Petrobras’ Results in LRCAP 2026

Unit	Product	Contracted Capacity (MW)	Start of Supply	Contract Term
Nova Piratininga	Capacity 2026	345.652	08/01/2026	10 years
Termobahia	Capacity 2026	132.951	08/01/2026	10 years
Juiz de Fora	Capacity 2026	78.676	08/01/2026	10 years
Seropédica	Capacity 2026	325.027	08/01/2026	10 years
Macaé	Capacity 2027	817.698	08/01/2027	10 years
Três Lagoas	Capacity 2027	234.480	08/01/2027	10 years
Vale do Açu	Capacity 2028	106.624	10/01/2028	10 years
Ceará	Capacity 2031	194.010	08/01/2031	10 years
Petrobras Total	-	2,235	-	-

Petrobras’ result in the auction reflects the technical and operational competitiveness of its thermal power generation portfolio, as well as its ability to ensure availability to the SIN, reinforcing the company’s commitment to the needs of the electricity sector in serving the population.

The result also ensures the necessary remuneration for the assets to be available to the electricity sector during the contract period. The estimated annual fixed revenue from the auction result is approximately R$ 4 billion.

www.petrobras.com.br/ri

For more information:

PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations

Email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br

Av. Henrique Valadares, 28 – 9th floor – 20231-030 – Rio de Janeiro, RJ.

Tel.: 55 (21) 3224-1510/9947

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes", "expects", "predicts", "intends", "plans", "projects", "aims", "should," and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.

 

Next steps

Petrobras will proceed with the required regulatory procedures, including signing the Capacity Reserve Contracts (CRCAP); demonstrating firm fuel supply, as provided for in MME Ordinances; and meeting the operational and performance requirements defined by the National System Operator (ONS).

With the successful result of the company’s participation in the 2026 LRCAP, Petrobras reaffirms the competitiveness of its assets and its commitment to the country’s energy security, to a just energy transition, and to value creation for its shareholders, while continuing to evaluate its participation strategies in future auctions.

Petrobras’ thermal power portfolio

Petrobras’ thermal power portfolio consists of 13 power plants, 12 of which are contracted within the electricity sector for the periods established in their respective products and are able to deliver power and energy according to the needs of the SIN. The portfolio has a capacity of 4.9 GW, sufficient to supply approximately 21 million households.

www.petrobras.com.br/ri

For more information:

PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations

Email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br

Av. Henrique Valadares, 28 – 9th floor – 20231-030 – Rio de Janeiro, RJ.

Tel.: 55 (21) 3224-1510/9947

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes", "expects", "predicts", "intends", "plans", "projects", "aims", "should," and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.

SIGNATURES

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

PETRÓLEO BRASILEIRO S.A–PETROBRAS

By: /s/ Fernando Sabbi Melgarejo

______________________________

Fernando Sabbi Melgarejo

Chief Financial Officer and Investor Relations Officer