Centrais Elétricas de Santa Catarina S.A. – CELESC is one of the largest companies in the Brazilian electricity industry, especially in the areas of power distribution and generation. Structured as a holding company in 2006, the Company has two wholly-owned subsidiaries – Celesc Distribuição S.A. and Celesc Geração S.A. In addition, it holds controlling interest (common shares) in Companhia de Gás de Santa Catarina (SCGÁS) and has equity interests in Dona Francisca Energética S.A. (DFESA), Empresa Catarinense de Transmissão de Energia S.A. (ECTE), and Companhia Catarinense de Águas e Saneamento (CASAN).
Its controlling shareholder is the State of Santa Catarina, which holds 50.18% of the Company’s common shares, corresponding to 20.2% of the Total Capital.
SHAREHOLDING AND OWNERSHIP STRUCTURE IN DECEMBER 2025
Celesc Distribuição S.A.
Celesc D (Celesc Distribuição S.A.), a wholly-owned subsidiary of Centrais Elétricas de Santa Catarina S.A. (Celesc), operates in the electricity distribution segment, serving mal or part of 285 municipalities, with a total of 3,578,269 consumer units. Of these, 264 municipalities are served on a precarious basis, located in the concession areas of other distributors (17 in Santa Catarina and 4 in Paraná). According to ANEEL regulations, precarious the incumbente concessionaire.
In addition, Celesc D is responsible for supplying electricity to 4 distribution concessionaires and 20 permissionaires, which operate in municipalities in Santa Catarina not served by Celesc D.
Celesc Geração S.A.
Celesc Geração is a subsidiary of the Celesc Group which operates in the generation, sale and transmission of electricity through the operation, maintenance and expansion of its own generation facilities, as well as the sale of electricity and participation in generation and transmission projects in partnership with private investors.
The Company has its own generating park consisting of thirteen hydroelectric plants, all in commercial operation. It also has seven solar photovoltaic power plants in the Remote Distributed Generation model. It should be noted that the Company holds minority stakes in three other hydroelectric power generation projects developed in partnership with private investors, in the form of Special Purpose Entities (SPEs), all of which are already in commercial operation.
All the generation and transmission projects are located in the state of Santa Catarina.
On December 31, 2025, Celesc Geração’s total generation capacity, in commercial operation, was 139.01MW, of which 130.27MW was its own, of which 116.27MW was from hydroelectric sources and 14MW from solar sources, as well as 8.74MW from the generation park established with partners – already proportional to Celesc Geração’s shareholding in these ventures.
Celesc Geração also has a Generation Operation Center – GOC, which is responsible for the supervision, monitoring and centralized and remote operation of its generating plants. The GOC operates and supervises the entire own generating park, in shifts that cover 24 hours a day, seven days a week.
Usinas Celesc
The following table shows the main characteristics of Celesc Geração’s 100% plants:
Water Source Generating Park | 100% owned by Celesc Geração S.A.
The table below shows the main characteristics of the generation projects developed in partnership with private investors:
Water Source Generating Park | With minority participation
The following table shows the solar projects in commercial operation:
Solar Generating Park | 100% Celesc G
All the hydroelectric power plants in the company’s own generating park and those in partnership with other partners take part in the Energy Reallocation Mechanism (MRE), a system for sharing hydrological risks, in which participating plants transfer energy generated over their physical guarantee to plants that have generated energy at levels below their physical guarantee limits.
Expansion Projects
The Company has a portfolio with projects to expand/reactivate its plants. As for the physical guarantee (new or additional), the Company seeks to obtain, on average, a 50% factor for the plants’ total capacity after their expansion/reactivation, which is a standard observed in other similar operational projects.
It is noteworthy that, on December 1, 2025, Celesc announced the acquisition of the Canoas Small Hydroelectric Power Plant Project, which foresees the construction of a Small Hydroelectric Power Plant (PCH) between the municipalities of Curitibanos and São José do Serrito, in the Santa Catarina Plateau. This project is part of the investment portfolio for the expansion of the Company’s generating park. In 2026, the Basic Project Review will be carried out, followed by subsequent stages.
Energy Trading
In addition to electrical energy generation and transmission projects, Celesc Geração, since its incorporation, has been selling electric energy produced by its own generating park and by some of its subsidiaries. In accordance with the strategic guidelines of the Master Plan, since the approval of the Energy Trading Business Plan, seeking to diversify the Group’s business in order to promote new business and revenues, maximizing the benefits of its territorial presence, the Company has expanded Celesc Geração’s operations in this segment.
We highlight that, on January 24, 2024, Celesc Geração obtained the approval to act as a Retail Trader with the Electric Energy Trading Chamber (CCEE), as resolved at its Board of Directors’ meeting number 1,379/2024. Therefore, the Company will be able to serve all Group A customers (high and medium voltage supply) who are eligible for migration to the Free Contracting Environment (ACL) in the retail modality, based on Ordinance 50/2022 issued by the Ministry of Mines and Energy (MME).
The structuring of Celesc Geração as an Energy Retail Trading Agent follows the premises of the Company’s Master Plan and the trends of the electricity sector. The Company has been selling energy in the free wholesale market since 2006, however, the entrance into the free retail market represents an important opportunity for the Celesc Group as it reinforces its presence in the sector, diversifies its revenue sources and maximizes the benefits of its territorial presence.
Thus, the Company has been positioning itself in the energy commercialization segment and related businesses, demonstrating a greater presence in the market, particularly in Santa Catarina.
Electric Mobility
The Catarinense Electric Corridor project aims to expand the charging infrastructure for electric or hybrid vehicles, fostering the energy transition through a more sustainable mode of transportation.
With an estimated investment of over R$5 million, the project aims to provide charging stations in 100 different municipalities in Santa Catarina by the end of 2025, not only along the state’s main roads but also in areas of tourist interest. Where technically feasible, the aim is to ensure that charging stations are located no more than 50 km apart, in order to provide safety and convenience to users of hybrid and electric vehicles in the state of Santa Catarina.
Since 2015, Celesc has been a pioneer in promoting the electric vehicle market by creating an electric vehicle charging infrastructure in Santa Catarina. Developed in partnership by the subsidiary Celesc Distribuição and the CERTI Foundation, the project is part of a Research, Development and Innovation initiative (R&DI) by the Brazilian Electricity Regulatory Agency (ANEEL). However, the electro-posts that will be installed from 2025 onwards will no longer be part of the R&DI Program, but will become part of the Celesc Group’s Business Plan, through its subsidiary Celesc Geração, as part of the energy solutions offered to the market.
Subsidiary
Companhia de Gás de Santa Catarina – SCGÁS
SCGÁS holds the concession to operate natural gas distribution services in 100% of the state of Santa Catarina, and its piped gas distribution concession contract, signed on March 28, 1994, is valid for 50 years (until 2044). The company sells and distributes two million cubic meters of natural gas daily to 16,700 customers. Celesc owns 51.0% of the company’s total shares, followed by Mitsui with 23%, Commit with 23%, and Infragás with 3%, respectively.
Other Interests
Empresa Catarinense de Transmissão de Energia S.A. – ECTE
Established in August 2000, with the specific purpose of integrating the electricity transmission system in the state of Santa Catarina, through the operation of electricity transmission lines in the eastern and coastal regions of Santa Catarina, the company is the concessionaire of the SE Campos Novos/SC – SE Blumenau/SC C2 transmission line, which is 252.5 km long. It is the second project put into operation under the new model designed for the new electricity sector.
ECTE, after winning lot D of auction no. 006/2011, established, in December 2011, its subsidiary ETSE – Empresa de Transmissão Serrana S.A., which includes the concession for the Abdon Batista substation (525/230 kV) and the Gaspar substation (230/138 kV), both in the State of Santa Catarina, and aims to integrate the power generation plants into the SIN (National Interconnected System), as well as enable access to the Celesc distribution system, in addition to meeting the expansion of electricity supply to the Itajaí Valley region.
The affiliated company ECTE holds a power transmission concession contract no. 088/2000, dated November 1, 2000, with a term of 30 years. For its subsidiary ETSE, the electricity transmission concession contract no. 006/2012, dated May 10, 2012, has a term of 30 years. Celesc holds 30.88% of the company’s total share capital.
Companhia Catarinense de Água e Saneamento – CASAN
As a mixed economy-held company controlled by the State Government of Santa Catarina, the role of CASAN is to plan, execute, operate and explore the water supply and sanitation services in their areas of concessions (municipality). Currently, the company provides services to 193 municipalities in Santa Catarina and 1 in Paraná, serving approximately 2.7 million people with treated water and 650 thousand people with sewage collection, treatment, and disposal. Celesc holds 9.50% of the company’s total shares, while the State of Santa Catarina owns 90.49% and Other Shareholders 0.01%.
