ISA CTEEP constantly evaluates growth opportunities in the market and has been making progress in this regard. Its strategy is to expand its footprint across Brazil through auctions and/or acquisitions that are synergistic with existing operations, while respecting the minimum required return.

In the last years, the Company won the bids fourteen lots in the transmission auctions conducted by ANEEL, for which ANEEL invested (weighted by ISA CTEEP’s stake) a total of BRL6.3 billion, with an increase in RAP (2020/2021 cycle) of around BRL645 million after the assets go operational. Until March 31, 2021, about BRL2.2 billions had been invested in the 14 projects won in the auctions held from 2016 to 2020.

Another important avenue for growth is the investments made in retrofitting projects. In the last seven years, the Company invested an average of BRL220 million/year, with associated average RAP of BRL 45 million/year. It must be noted that these are average amounts and the investments may be non-linear as they depend on ANEEL’s authorizations. The Company has authorizations to invest over BRL1.4 billion on retrofitting in the coming years.

Auctions Subsidiaries % ISA
CTEEP
Location ANEEL CAPEX
ISA CTEEP Participation
(BRL MM)
Discount RAP ISA CTEEP
Cycle 2020/2021
(BRL MM)
Contract
signature
Implementation
Deadline ANEEL 

ANEEL
Necessity
Date¹
Environmental
License (LI)
Initiation of
Construction
Land
Development4
Projects
Development5
Entry in
Commercial
Operation

Auction
013/2015
10/28/2016
IE Paraguaçú
(Lot 3) 
50% Bahia
Minas Gerais
255 0.0% 61 Feb-17 Feb-22 Jan-19 2Q19 100% 87% -
IE Aimorés
(Lot 4)
50% Minas Gerais 171 0.0% 41 Feb-17 Feb-22 Jan-19 2Q19 99% 90% -
IE Itaúnas
(Lot 21)
100% Espírito Santo 298 25.1% 53 Feb-17 Feb-22 Jul-18 3Q18 100% 68% -
Auction
05/2016
4/24/2017
IE Ivaí
(Lot 1)
50% Paraná 968 33.2% 150 Aug-17 Aug-22 Feb-21 4Q19 91% 72% -
IE Tibagi6
(Lot 5)
100% São Paulo 
Paraná
135 32.2% 21 Aug-17 Aug-21 Jan-17 3Q18 100% 100% 4Q20
IE Itaquerê
(Lot 6)
100% São Paulo 398 44.5% 52 Aug-17 Aug-21 Jun-18 3Q18 100% 100% 3Q20
IE Aguapeí
(Lot 29)
100% São Paulo 602 52.7% 60 Aug-17 Aug-21 Dec-18 3Q19 100% 100% 1Q21
IE Itapura
(Lot 25)
100% São Paulo
(Bauru)
126 57.6% 12 Aug-17 Feb-21 Aug-19 2Q18 100% 100% 3Q19
Auction
02/2018
06/29/2018
IE Itapura
(Lot 10)
100% São Paulo
(Lorena)
238 73.9% 11 Sep-18 Sep-22 Jan-20 3Q19 100% 90% -
IE Biguaçu
(Lot 1)
100% Santa Catarina 641 66.7% 41 Sep-18 Sep-23 Sep-21 1Q21 64% 57% -
Auction
02/2019
12/19/2019
Minuano
(Lot 1)
100% Rio Grande do Sul 682 66.9% 38 Mar-20 Dec-24 Jan-20 3Q21 - 28% 28% -
Três Lagoas
(Lot 6)
100% Mato Grosso do Sul
São Paulo
99 68.1% 5 Mar-20 Jun-23 Jan-20 1Q21 72% 36% -
Triângulo Mineiro
(Lot 7)
100% Minas Gerais 554 65.4% 33 Mar-20 Dec-24 Jan-20 3Q21 - 60% 24% -
Auction
01/2020
12/17/2020
Riacho Grande
(Lot 7)
100% São Paulo 1,141 57.9% 68 Mar-21 Dec-25 Jan-26 3Q23 - - 4.1% -
Total 6,306   645                
¹ According to concession agreement
² To receive the total amount of RAP
3 Land Development: evolution of properties released
4 Project Development: evolution of all activities related to the project until electricity is provided to it 
5 E Tibagi's RAP value does not consider adjustment resulting from the contractual amendment (-13.5%), approved by ANEEL's Board of Directors on 10/26/20 
6 Obtaining parcial LI
7 Startup with energization of the Alta Paulista substation and 105km transmission lines

Updated on April 30, 2021.