AXIA Energia shares surge 6.14% after-hours as it secures ANDRITZ contract to modernize Brazil's Itumbiara hydropower plant.

Axia Energia SA (AXIA) surged 6.14% in after-hour trading following the announcement that it selected ANDRITZ to modernize the Itumbiara hydropower plant in Brazil. The project, valued in the lower double-digit million-euro range, involves upgrading protection, control, and supervision systems to enhance operational reliability, safety, and efficiency at the 2,082 MW facility. The modernization addresses technological obsolescence and strengthens operational resilience, aligning with AXIA’s focus on infrastructure upgrades and long-term sustainability. This strategic partnership with ANDRITZ, a global leader in hydropower technology, signals AXIA’s commitment to maintaining competitive infrastructure, which likely boosted investor confidence. The news directly supports the stock’s upward movement, as it underscores operational improvements and aligns with broader sector trends favoring utility sector resilience and digitalization.