Eletrobras (EBR) Places Colíder Hydroelectric Plant Under Alert Status

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) is one of the best alternative energy stocks to buy right now. On August 15, the company announced that its recently acquired Colíder Hydroelectric Power Plant in Mato Grosso, Brazil, has been placed under “ALERT” status due to multiple drainage system failures.

Suwin/Shutterstock.com

The 300-megawatt facility, acquired from Copel on May 30, was already under “ATTENTION” classification at the time of purchase. Since then, four of the plant’s 70 drainage structures, critical for managing water pressure beneath the dam, have been damaged, prompting safety concerns.

Following expert recommendations, Eletrobras initiated a reservoir level reduction and activated its Emergency Action Plan, notifying relevant authorities and communities. Despite the incidents, the company affirmed that the plant remains compliant with safety regulations and emphasized its commitment to protecting people, the environment, and infrastructure.

Centrais Elétricas Brasileiras S.A. – Eletrobras (NYSE: EBR) stands as a leading force in Brazil’s energy sector, generating power from a diverse mix of hydro, thermal, nuclear, wind, and solar sources. Its portfolio includes 44 hydroelectric facilities, five thermal plants, and two nuclear stations. In addition to its generation assets, Eletrobras operates one of the largest transmission networks in the country, spanning more than 66,000 kilometers and playing a vital role in delivering electricity across Brazil.

READ NEXT: Top 10 Tech Stocks with Strong Return on Equity and 13 Best NYSE Penny Stocks to Invest in Now.

Disclosure: None. This article is originally published at Insider Monkey.