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Greenfield

Currently Taesa has 6 projects under construction with a total investment of R$ 4,844 million and a RAP of R$ 875 million (2020-2021 cycle). Considering only the Company’s interest in these concessions, the amount to be invested is R$ 3,206.9 million with a proportional RAP of R$ 567.5 million. It is worth mentioning that 3 projects, Miracema, EDTE and Mariana, and reinforcements for Novatrans were recently concluded, adding a total RAP of R$ 161.0 million to Taesa – 2020-2021 cycle.

  Project AuctionExtension/LocationVoltagePartnershipRAP (2020-21 cycle) R$ mnCapex ANEELContract SigningPreliminary License (LP) Installation License (LI)Estimated Conclusion ANEEL

  • Preliminary License (LP) issued in May 2016.
  • Installation and Operation License’s (LI and LO) issued in december 2018.
  • Issuance of TLD (Termo de Liberação Definitiva) on December 20, 2019 for Mariana reinforcement.
  • Energization scheduled for May 25, 2020.
  • Issuance of TLD (Termo de Liberação Definitivo) on June 8, 2020, with date to entry into retroactive commercial operation on June 4, 2020.
  • Concession in operation.

  • All environmental licenses have been obtained: Installation and Preliminary Licenses of LT 500kV, LT 230Kv, SE Palmas, SE Lajeado, and SE Miracema.
  • Recognition of the right to SUDAM’s tax benefit in September 2018. The benefit will last for 10 years from the start of its operations.
  • The section LT Miracema – Lajeado (circuit 2), with 500kV of voltage and 30 km of extension, was energized in September 2019.
  • Issuance of TLD (Termo de Liberação Definitiva) on October 1, 2019 for the reinforcement, on December 27, 2019 for the 500kV installations, and on February 18, 2020 for the 230kV and 138kV installations, where for the latter, a TLR (Termo de LIberação de Receita) was issued for the period between December 27, 2019 and February 7, 2020.
  • Concession in operation.

  • Preliminary License (LP) issued in June 2018.
  • 2nd Inssuance of EDTE debentures in december 2018.
  • Installation License (LI) issued in january 2019.
  • Energizatoin of the TL 500kV Ibicoara – Poções III spread and the 500/230kV Poções III substation in December 22, 2019.
  • Last energization of EDTE refers to the TL 230kV Poções III – Poções II spread on January 20, 2020.
  • Issuance of TLP (Termo de Liberação Provisória) on January 20, 2020.
  • Issuance of TLD (Termo de Liberação Definitiva) on February 7, 2020.
  • Concession in operation.

  • Basic project registered with ANEEL and already approved in ONS.
  • Preliminary License (LP) issued in January 2019.
  • Installation License (LI) issued in October 2019.
  • 1st issuance of debentures of ESTE in December 2019.
  • Issued the OSC (Ordem de Serviço de Campo) for the start of field work.
  • Construction Progress: 45% accomplished.

  • Basic project is approved by ANEEL/ONS for the substations and under review for transmission lines.
  • The design implementation / topography activities were completed.
  • Preliminary License (LP) issued in September 2018.
  • Financing agreement signed with BNB in September 2018.
  • Recognition of the right to SUDENE’s tax benefit in September 2018. The benefit will last for 10 years from the start of its operations.
  • 1st Issuance of Janaúba debentures in January 2019.
  • Installation License (LI) issued in July 2019.
  • 2nd issuance of Janaúba debentures in December 2019.
  • Construction Progress: 85% accomplished.

  • Basic project approved by ANEEL.
  • Preliminary License (LP) issued in October 2018.
  • Recognition of the right to SUDENE’s tax benefit in December 2018. The benefit will last for 10 years from the operating start of the project.
  • Installation License (LI) issued in April 2019.
  • Construction Progress: 86% accomplished.

  • Basic project registered with ANEEL.
  • Preliminary License (LP) issued in October 2018.
  • Recognition of the right to SUDENE’s tax benefit in December 2018. The benefit will last for 10 years from the operating start of the project.
  • Instalation License (LI) issued in May 2019.
  • Construction Progress: 86% accomplished.

  • Basic project filed in ANEEL.
  • EIA/RIMA registered with IAP.
  • Preliminary License (LP) for the 230kv installations issued in September 2018.
  • Change in corporate name of Elétricas Reunidas do Brasil S.A. (ERB1) for Electric Interconnection Ivaí S.A.
  • Instalation License (LI) issued for Sarandi Substation of 525/230 kV in April 2019, Paranavaí Norte Substation of 230/138 kV in May 2019, LT 230 kV Sarandi – Paranavaí Norte in June, 2019, and for the Substations Londrina of 525 kV, Foz do Iguaçu of 525 kV and Guaíra of 525 kV/230 kV, and the LT 525 kV Sarandi – Londrina in August 2019.
  • 1st issuance of debentures of Ivaí in January 2020.
  • Construction Progress: 64% accomplished.

  • Establishment of the company Sant’Ana Transmissora de Energia S.A. on January, 2019.
  • Execution of the concession agreement on March 22, 2019.
  • Previous and Installation Licenses (LPI) issued for the SSs Livramento 3 and Maçambará 3, both with 230kV, in October 2019.
  • Previous Licenses (LP) issued for all lines of transmission and for the 3 existing substations (SS Alegrete 2, SS Cerro Chato and SS Santa Maria 3) in December 2019.
  • Installation Licenses (LI) issued for the transmission lines LT Livramento 3 – Alegrete 2 (C1), LT Livramento 3 – Maçambará 3 (C1), LT Livramento 3 – Cerro Chato (C1), and sectionings LT Maçambará – Santo Ângelo (C1/C2), all of 230kV voltage, as well as for the extensions to substations SE 230kV Alegrete 2 and SE 230kV Cerro Chato, in April 9, 2020.
  • Last Installation License referring to the LT 230kV CS Livramento 3 – Santa Maria 3, which represents approximately one third of the total extension of the transmission lines of this concession was issued on November 11, 2020.
  • Construction progress: 41% accomplished.

Brownfield (M&A)

Asset – Lagoa Nova Transmissão de Energia Elétrica S.A

On March 13, 2020, the Company disclosed a Notice to the Market informing the conclusion on this date, after the fulfillment of all the preceding conditions, the acquisition of 100% of the shares representing the total and voting capital of Rialma Transmissora de Energia I S.A. ( “Rialma I”), through the payment of the total amount of R $ 60,482,000.00, after the adjustments resulting from the variation of the working capital balances and net debt between the base date (June 30, 2019) and the closing date of the transaction (March 13, 2020). The Extraordinary General Meeting held on March 13, 2020 approved the change of the corporate name of Rialma I, which was renamed Lagoa Nova Transmissão de Energia Elétrica S.A.

The completion of the transaction resulted in the acquisition of an asset located in the State of Rio Grande do Norte, interconnected with one of Taesa’s substations – SE Lagoa Nova of Paraíso Açu Transmissora de Energia S.A. -, allowing operational advantages in maintaining the new asset, and consequently, contributing to the Company’s growth plan and its consolidation in the Brazilian transmission sector. Lagoa Nova comprises the 230kV transmission line Lagoa Nova 11 – Currais Novos 11, double circuit, with an extension of 28 km and Annual Permitted Revenues (RAP) of R$ 12.8 million (2020-2021 cycle).

The table below shows a summary of the transaction:

AssetAuction/LotExtension/LocationVoltageAcquisition Value R$’ 000RAP¹ (cycle 2020-21) R$’ 000Acquired StakeEnd of ConcessionCategory
(1) Value of RAP (Annual Revenue Allowed) for the 2020-2021 cycle, considering the stake acquired by TAESA

Assets of Âmbar Energia

In the Material Fact released on December 17, 2018, the Company announced the signing of a Share Purchase Agreement with Âmbar Energia Ltda. and Fundo de Investimento em Participações Multiestratégia Milão, with the purpose of acquiring the four assets mentioned above by the Company, for the amount of R$ 942,537,000.00 (base date: December 31, 2018).

On February 14, 2020, the Company disclosed a Material Fact informing the conclusion of the acquisition of 100% of the shares representing the total and voting capital of São João Transmissora de Energia S.A. and São Pedro Transmissora de Energia S.A., through the payment of R$ 753,168,061.88, under the terms of the Contract, after the fulfillment of the suspensive conditions applicable to the acquisition.

The conclusion of the acquisition of 51% of the shares representing the total and voting capital of Triângulo Mineiro Transmissora de Energia S.A. and Vale do São Bartolomeu Transmissora de Energia S.A. is still subject to compliance with the respective suspensive conditions.

On June 10, 2020, the Company issued a Notice to the Market stating that the deadline for the acquisition of 51% of the shares representing the total voting and voting capital of Triangulo Mineiro Transmissora de Energia S.A. and Vale do São Bartolomeu Transmissora de Energia S.A. has expired and the contract was terminated in connection with the acquisition of these two assets.

The completion of the transaction resulted in the acquisition of important strategic assets located in the areas in which the Company operates, providing great geographical complementarity with TAESA’s concession portfolio and therefore contributing to its growth plan and consolidation in the Brazilian transmission sector.

The table below shows a summary of the transaction:

AssetAuction/LotExtension/LocationVoltageShareholdersAcquisition Value¹ R$ mnRAP (2020-21 cycle) R$ mnNet Debt² R$ mnEBITDA³ Margin %EBITDA³ R$ mnEnd of ConcessionCategory
(1) Closing acquisition value – 2/14/2020
(2) Net Debt Amount on 12/31/2018
(3) Regulatory EBITDA estimated for 2019.
(*) On the closing date of the acquisition, Taesa paid the gross debt of these assets in the amount of R $ 242.7 million.

For more information, access the Notices and Material Facts page.

Eletrobras Auction 01/2018

On September 27, 2018, TAESA took part in the auction held by Centrais Elétricas do Brasil (Eletrobras) (Auction no. 01/2018) – see Material Fact –, where it submitted bids in lots L (Brasnorte), M (Transmineiras), N (ETAU), and P (Centroeste). For batches L, N and P, these were the only bids submitted, and, therefore, there were not competing offers. In October 2018, the Company notified Eletrobras of the exercise of its preemptive right over the SPEs belonging to lot M, as provided for in the call for bids and in strict accordance with the provisions of the Transmineiras shareholders’ agreements. In November 2018, Eletrobras approved the acquisition of TAESA in lots M (Transmineiras) and in January 2019, in lots L (Brasnorte) and N (ETAU), thereby closing the formal auction process. As a result, the Company entered into agreements for the purchase and sale of Eletrobras’ shareholdings in Brasnorte, ETAU and Transmineiras, obtaining the necessary prior approvals from the Administrative Council for Economic Defense (CADE).

On April 29, 2019, TAESA concluded the acquisition of lot N and, on May 31, 2019, the Company concluded the acquisition of lots L and M. See below for further details of the transaction:


LotSPEAmount Paid (in R$ mn)RAP¹ (in R$ mn)Acquired StakeTAESA Final StakeAccounting Method for TAESA
(1) RAP related to the acquired stake (2020-2021 cycle).
(2) Considers direct interest of 49% and indirect interest of 4.9982% via subsidiary ENTE.

On August 30, 2019, the Company disclosed a Material Fact that the Company’s Extraordinary General Meeting approved, on this date, the acquisition by the Company of 11.624% of the shares representing the total and voting capital of Brasnorte Transmissora de Energia S.A. (“Brasnorte”), through the settlement of the Share Purchase Agreement with Bipar Energia, Telecomunicação e Industria Metalúrgica S.A. (“Bipar”), for the amount of R$ 17,654,000.00, subject to the adjustments provided in the Agreement. Also on this date, the Agreement with Bipar was signed, and the Acquisition was concluded through the payment of R$ 18,023,923.47, after the proper adjustments.

After the conclusion of this operation, the Company, which previously held 88.376% of shareholding interest in Brasnorte, now holds 100% of Brasnorte’s total shares.