On Thursday, July 16, 2026, Eneva (ENEV3) reported that total gross power generation reached 2,537 GWh in the second quarter of 2026 (2Q26), up 35% compared to 2Q25, driven mainly by higher merit-order dispatch of thermal power plants in the National Interconnected System (SIN). In the period, the average dispatch weighted by the installed capacity of the thermal portfolio reached 20%, with 48% at plants supplied by the company’s own gas and less than 1% at plants supplied by third-party fuels.
In 2Q26, net generation from the company’s thermal power plants totaled 2,230 GWh, versus 1,532 GWh in 2Q25. The Parnaíba Complex accounted for most of this, with an increase of 645 GWh in gross generation compared to the same quarter of 2025, while the Jaguatirica II TPP reduced its gross thermal generation by 44 GWh year over year. The Itaqui TPP resumed generation, with 17 GWh of gross output in the quarter, and the Azulão I TPP produced 97 GWh gross during its commissioning phase, with no recorded generation in 2Q25.
Eneva’s total natural gas production reached 0.47 billion cubic meters (bcm) in 2Q26, of which 0.42 bcm came from the Parnaíba Basin and 0.05 bcm from the Amazonas Basin, with this volume directed to supplying the Jaguatirica II TPP and testing of the Azulão I TPP. At the Parnaíba Complex, around 5.1% of the gas produced was allocated to small-scale liquefied natural gas (SSLNG) sales contracts, while the Amazonas Basin maintained stable production compared to 2Q25.
At the end of 2Q26, Eneva’s 2P natural gas reserves totaled 46.5 bcm, considering 37.1 bcm in fields in the Parnaíba Basin and 9.5 bcm in the Amazonas Basin. These volumes reflect reserve certifications as of December 2025 for Parnaíba and December 2023 for Amazonas, adjusted for gas consumption recorded in 2024, 2025, and the first half of 2026.
In the solar segment, the Futura 1 Complex, with 692.4 MWac of installed capacity, recorded average availability of 99% and a capacity factor of 26% in 2Q26. Net generation was 294 GWh, lower than in 2Q25 and 1Q26, impacted by lower seasonal irradiance and by an increase in curtailed generation due to constraints, which totaled 87 GWh in the quarter due to cuts ordered by the National Electric System Operator (ONS) in a scenario of power oversupply and transmission limitations in the Northeast region.
