Auren Energia

What Auren Energia does

Auren Energia S.A. is a Brazilian publicly traded renewable power generator (ticker AURE3 on B3) headquartered in São Paulo, operating approximately 8.8 GW of installed capacity across wind, solar photovoltaic, hydroelectric, and hybrid generation assets following the 2024 acquisition of AES Brasil. The company ranks as Brazil's third-largest power generator and is controlled by Votorantim S.A. (38.7%) and CPP Investments (30.5%), with the remaining ~30% free float. Asset operations are concentrated in subsidiaries including CESP (12 HPPs and 3 SHPs totaling 2,658 MW) and a portfolio of wind farms (Ventos do Piauí I/II/III, Complexo Eólico Alto Sertão II, Tucano, Cajuína I/II) and solar complexes (Sol de Jaíba at 500 MW, Guaimbê, Ouroeste) across multiple Brazilian states.

The company monetizes its generation through two primary streams: long-term power purchase agreements (PPAs) with corporate clients and free consumers, and modulation services provided to the grid for stability. Named customers include Microsoft, Equinix, and large industrial free consumers operating in Brazil's deregulated energy market. Q1 2026 net revenue reached R$3,075 million (+4% YoY) with adjusted EBITDA of R$926 million (-23% YoY) reflecting curtailment and hydrology headwinds; modulation gains of R$97 million partially offset an R$86 million curtailment financial impact. Approximately 65% of debt is IPCA-indexed to match inflation-linked energy sale agreements, providing a natural hedge.

Auren's governance includes independent board members and a Statutory Audit Committee; the company is included in B3's Corporate Sustainability Index (ISE) and has received the Anefac Transparency Trophy. Backed by Votorantim's industrial conglomerate resources and CPP Investments' long-duration capital, the company is executing Phase 1 of a corporate reorganization to simplify its structure post-AES Brasil integration, while deleveraging from 5.7x to 4.8x Net Debt/Adjusted EBITDA.

Name

Auren Energia

Legal name

Auren Energia S.A.

Website

https://ri.aurenenergia.com.br

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

251–500 employees

Short description

Auren Energia is a Brazilian publicly traded renewable power generator operating 8.8 GW across wind, solar, and hydroelectric assets post-AES Brasil merger, serving corporate clients and free consumers via long-term PPAs, and controlled by Votorantim and CPP Investments.

Ownership category

akta.pro rank

Product category

Renewable Energy Generation

NAICS

Electric Power Generation (22111), Hydroelectric Power Generation (221111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114)

SIC

Electric Services (4911)

akta.pro primary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

akta.pro secondary industries

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Hybrid Renewable + Storage Plant Integration (Solar+Storage, Wind+Storage) (EUAEAEAE)

Keywords

• Renewable energy generation
• Power purchase agreements
• Energy commercialization
• Wind power generation
• Hydropower generation

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Others

Revenue model

1. Energy Generation and Commercialization: Generation and sale of electricity from renewable sources (wind, solar, hydro) to corporate clients through PPAs and spot market sales. Capacity of 8.8 GW post-merger with AES Brasil enables significant energy production and commercialization.
2. Modulation and Grid Services: Revenue from providing modulation services to the grid for stability, achieving R$97 million in record modulation gains in Q1 2026

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Auren Energia generates and commercializes electricity from renewable sources (wind, solar photovoltaic, and hydroelectric) across Brazil. The company operates a diversified generation portfolio totaling approximately 8.8 GW post-AES Brasil merger and sells energy to corporate clients through long-term Power Purchase Agreements (PPAs), to free consumers in Brazil's free energy market, and provides modulation/grid services to the National Electric System Operator.

Product overview

Auren Energia is a diversified power generation company in Brazil operating through a portfolio of generation assets and energy commercialization services. The company generates electricity from wind, solar photovoltaic, hydroelectric, and hybrid sources across multiple states in Brazil. Its operational assets include wind farms (Ventos do Piauí I/II/III, Complexo Eólico Alto Sertão II, Complexo Eólico Tucano, Complexo Eólico Cajuína I/II, and others), solar complexes (Sol de Jaíba, Complexo Solar Guaimbê, Complexo Solar Ouroeste, Complexo Solar AGV VII), hydroelectric plants (Porto Primavera, along with 12 HPPs and 3 SHPs operated through subsidiary CESP), and hybrid facilities (Sol do Piauí). Following the acquisition of AES Brasil, Auren became Brazil's third largest power generator with approximately 8.8 GW of capacity. The company commercializes energy through long-term PPAs with corporate clients including data center operators, and operates an investor relations platform for shareholder communication.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Power Generation Portfolio
• Solar Photovoltaic Generation Portfolio
• Hydroelectric Power Generation Portfolio
• Hybrid Solar-Wind Generation (Sol do Piauí)
• Energy Commercialization and Trading
• Modulation and Grid Services

Quantifiable outcome

• Modulation gains of R$97 million fully covered R$86 million financial impact from curtailment in Q1 2026
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core and flagship.

• EquinixcoreGTM or Marketing Partner · 5 March 2026Equinix formalized a wind power purchase agreement (PPA) with Auren Energia in Brazil. The agreement supports Equinix's renewable energy commitments for its data center operations. This represents a strategic partnership with a major data center operator seeking renewable energy supply.
• MicrosoftflagshipGTM or Marketing Partner · 18 February 2026Microsoft partnered with Auren Energia as one of six renewable energy developers in its global renewable sourcing strategy. Auren contributed to Microsoft's achievement of matching 100% of its electricity consumption with renewable energy purchases through PPAs. Microsoft has contracted 40 GW globally with 19 GW now online.

Scale indicators10 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Equatorial Energia: Brazilian energy holding with diversified generation and distribution assets. Comparable to Auren in serving large industrial consumers and operating renewable and conventional generation in Brazil.
• Serena Energia: Pure-play Brazilian renewable IPP focused on wind and solar generation. Directly comparable to Auren as a renewable-focused generator targeting the corporate PPA and free-market segments.
• Omega Energia: Brazilian renewable energy generator and commercializer focused on wind, solar, and hydro. Smaller scale than Auren but directly competes in the same corporate PPA and free-market segments.
• Neoenergia: Brazilian integrated energy company (Iberdrola subsidiary) with significant renewable generation. Competes directly with Auren in wind, solar, and hydro generation for the corporate renewable PPA market.
• Enel Brasil: Brazilian subsidiary of Enel, operating renewable and conventional generation plus distribution. Directly competes with Auren in renewable energy commercialization and free-market PPAs in Brazil.
• Engie Brasil: Largest private power generator in Brazil with a diversified renewable and thermal portfolio. Directly comparable to Auren as a Brazilian IPP serving corporate and free-market customers through PPAs.
• CPFL Energia: Major integrated Brazilian energy group (State Grid subsidiary) with generation, distribution, and commercialization. Comparable to Auren in serving free-market consumers and large industrial clients via PPAs.

Broad incumbents

• Alupar: Brazilian holding focused on power transmission and generation concessions. Comparable to Auren in owning long-dated energy infrastructure concessions in Brazil with utility-like cash flow profiles.
• Engie (Global): Global energy major and parent of Engie Brasil, with extensive renewable generation globally. Comparable to Auren in strategy of shifting toward renewables and providing PPAs to corporate and hyperscaler customers worldwide.
• Eneva: Brazilian integrated energy company focused on thermal generation from natural gas. Comparable to Auren as a major Brazilian IPP serving the regulated and free markets, though with a thermal-skewed fuel mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCifsjlhUcjCO4nJsa6AFs9A
• LinkedInlinkedin.com/company/aurenenergia
• Xx.com/AurenEnergia

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Auren Energia