Trafigura completes first power transaction in Brazil

Rio de Janeiro, 22 July 2026 – Trafigura, a global leader in the commodities industry, has completed its first transaction in the Brazilian power market, entering into a long-term power purchase agreement with CGN Brazil Energy.

Under the agreement, Trafigura has assumed a contract worth USD150 million  to purchase power from CGN, previously held by Grupo Bolt. Trafigura will market and sell the power secured under this agreement to customers operating within Brazil's Ambiente de Contratação Livre (ACL), the country's deregulated electricity market, in which large consumers and generators can negotiate energy contracts outside the regulated tariff framework.

Brazil's ACL has grown rapidly, driven by renewable energy expansion and market liberalisation that has broadened free-market access. It now accounts for a growing share of electricity consumption in Brazil.

Marc Erb, Head of Brazil Power & Gas Trading at Trafigura, said: "Completing our first power transaction in Brazil is a significant milestone for Trafigura. We entered this market because we identified a genuine opportunity to add value for counterparties — as an intermediary, as a risk manager, and as a long-term commercial partner.  This transaction with CGN is proof of that conviction, and we look forward to building on this foundation as we grow our presence across the Brazilian power market."

Today's announcement follows Trafigura's wholesale power trading licence approval in Brazil earlier this year. Based in Rio de Janeiro, its Brazil power business operates in the world's sixth-largest power market, where hydropower accounts for around two-thirds of electricity generation – giving the country one of the world's highest shares of renewable energy.

“CGN is pleased with Trafigura’s entry into the Brazilian power market. As a leading global company in the sector, it brings significant experience and liquidity to our energy market, strengthening the competitiveness and maturity of the entire industry. This transaction aligns perfectly with CGN’s strategy of building strong commercial relationships with companies that, like us, hold a prominent position on the global stage,” commented Ricardo Daelli, Commercial Director at CGN Brasil Energia.

"This operation demonstrates how the Brazilian free energy market has reached a level of maturity capable of attracting some of the energy sector's key global players. Participating in this structuring reinforces our commitment to connecting generators, traders, and consumers through solutions that enhance market liquidity, competitiveness, and efficiency," said Gustavo Ayala, CEO of Bolt Group.