Brazil · Corporate Distress
Key Facts
—The filing: the Tradener bankruptcy is a court-recovery petition listing R$1.69 billion (about $300 million) in debt, filed in Curitiba.
—The company: Tradener is regarded as Brazil’s first independent power trader, with reach across 23 states, around 1,200 clients and more than 1,000 average megawatts.
—The cause: the company blames a 2025 shift in hourly price formation, extreme spot-price volatility and a mismatch between contracted and real generation profiles.
