The Azulão Power Complex, located in Silves, Amazonas, is Brazil's premier operational gas-to-wire (wellhead-to-busbar) asset.

Key Metrics & Assets

• Capacity: 295 MW (Azulão I); potential combined-cycle bottoming expansion (Azulão II).
• Sponsor & Operator: Eneva.
• OEM Supplier: GE Vernova (heavy-duty gas turbine package).
• Commercial Operations (COD): Declared August 25, 2026.
• Fuel Supply: Onsite captive gas from Eneva's Azulão field reservoir, eliminating external fuel covenants and midstream risks.
• Contract Architecture: 15-year regulated capacity contract (PPA) homologated under the [[news-3216090|ANEEL LRCap]] framework.

Strategic Position

Azulão I operates in the isolated Northern submarket (Sistema Isolado), capturing premium tariff pricing due to transmission constraints. For IPPs, lenders, and sponsors evaluating the [[news-3216267|2026 capacity auctions]], the project represents the definitive case study in structured project finance and cash-flow predictability without merchant exposure.