On Friday, July 31, 2026, Axia Energia (AXIA3) and Axia Energia Nordeste announced the completion of the unbundling of their transmission stakes with ISA Energia Brasil in 2026. The transaction involved the sale of 49% of Interligação Elétrica do Madeira (IE Madeira) held by Axia Energia and Axia Nordeste to ISA Energia, the purchase by Axia Nordeste of the 51% of Interligação Elétrica Garanhuns (IE Garanhuns) that belonged to ISA Energia, and the receipt of a net amount of R$ 1.167 billion.
With the completion of the transaction, Axia Energia began consolidating 100% of IE Garanhuns, while ISA Energia began consolidating 100% of IE Madeira. According to the company, the transaction is aligned with the goal of optimizing minority stakes, maintaining capital discipline, and simplifying the corporate structure, as set out in the Strategic Plan.
According to the announcement, IE Garanhuns has 633 km of transmission lines, two substations, a concession term through December 2041, Permitted Annual Revenue (RAP) of R$ 157.9 million for 2025/2026, projected EBITDA (earnings before interest, taxes, depreciation, and amortization) of R$ 134.2 million in 2025, and estimated net debt of R$ 42.6 million for the same year.
IE Madeira, in turn, has 2,385 km of transmission lines, two substations, a concession valid through February 2039, projected RAP of R$ 760.7 million in 2025/2026, estimated EBITDA of R$ 660 million in 2025, and projected net debt of R$ 588 million for 2025.
