Investments in Greenfield Projects

In the last six years, the Company won the bids for 14 lots in the transmission auctions conducted by ANEEL, for which ANEEL invested (weighted by ISA CTEEP’s stake) BRL6.3 billion, with an increase in RAP (2021/2022 cycle) of around BRL668 million after the assets go operational. The Company has already energized four of these projects (Itapura Bauru, Itaquerê, Tibagi and Aguapeí) at an average capex efficiency of 36% and 11 months in advance, on average.
Following are the projects won in the auctions:

IE Itapura
Interligação Elétrica Itapura S.A. (“IE Itapura”) is responsible for executing Lot 25 won at Auction 015/2016 (“Itapura Bauru”) held by ANEEL in April 2017, and Lot 10 won at Auction 02/2018 (“Itapura Lorena”) held in June 2018. Itapura Bauru is located in the state of São Paulo and involves the installation of a 440 kV (-125/+250) MVAr static compensator in the existing Bauru substation. The installation of this equipment in the substation benefits the SIN as a whole and, especially, voltage control in the 440 kV network in São Paulo. Construction work began in 2Q18 and was completed in 3Q19, when the project obtained the Final Release Statement (TLD) from the ONS for full commercial operation on August 27, 2019. The project was completed with Capex efficiency of 50% and 18 months in advance. Itapura Lorena is responsible for building a substation with a maximum capacity of 1,200 MVA in the city of Lorena in São Paulo, and a 7 km circuit transmission line. In August 2019, the subsidiary obtained the installation license from CETESB for the substation and immediately commenced construction work in 3Q19.

IE Itaquerê
Interligação Elétrica Itaquerê S.A. (“IE Itaquerê”) is responsible for executing Lot 6 won at Auction 015/2016 held by ANEEL in April 2017. The project is located in São Paulo and includes the installation of three 500 kV (-180/+300) MVAr synchronous compensators in the Araraquara 2 substation (already being operated by State Grid). The installation of this equipment in the substation benefits the SIN as a whole and, especially, provides voltage control for the 440 and 500 kV systems in São Paulo. The subsidiary started construction work in 3Q18. The first equipment was energized in July 2020 and received partial RAP until its conclusion in December 2020. The project was delivered with capex efficiency of 40% and 11 months in advance.

IE Tibagi
Interligação Elétrica Tibagi S.A. (“IE Tibagi”) is responsible for executing Lot 5 won at Auction 015/2016 held by ANEEL in April 2017. The project is located in the states of São Paulo and Paraná and involves the installation of a 17 km transmission line and the construction of a substation. The subsidiary obtained the installation license from IBAMA in July 2018 and construction began in 3Q18. The project was delivered in 4Q20 with capex efficiency of 12% and eight months in advance.

IE Aguapeí
Interligação Elétrica Aguapeí S.A. (“IE Aguapeí”) is responsible for executing Lot 29 won at Auction 005/2016 held by ANEEL in April 2017. The project is located in São Paulo and involves the construction of 1,400 MVA substations and the installation of 121 km of transmission lines (140 km circuit). In June 2019, the subsidiary obtained all the installation licenses issued by the São Paulo State Environmental Company (CETESB) and construction work began in 3Q19. Energization took place in 1Q21. The project was delivered six months in advance of ANEEL’s deadline and with a capex efficiency of 43%.

IE Itaúnas
Interligação Elétrica Itaúnas S.A. (“IE Itaúnas”) is responsible for executing Lot 21 won at Auction 013/2015 held by ANEEL in October 2016. The project is located in the state of Espírito Santo and involves the installation of 79 km of transmission lines, the construction of a substation and the expansion of an existing substation. Expansion works began in 3Q18. The installation licenses for the transmission line and construction of the substation were issued in August 2019 and works began in 3Q19.

IE Biguaçu 
Interligação Elétrica Biguaçu S.A. (“IE Biguaçu”) is responsible for executing Lot 1 won at ANEEL auction 002/2018 held in June 2018. The project is located in Santa Catarina and involves the construction of a 300 MVA substation, expansion of an existing substation and the construction of a 57 km circuit transmission line including overhead, seabed and underground stretches.  In 4Q20, the project obtained the Installation License for the Ratones substation and the equipment in the transition zones. The licensing process for the transmission lines was concluded in 1Q21.

IE Paraguaçu
IE Paraguaçu is responsible for executing Lot 3 won at Auction 013/2015 held by ANEEL in October 2016. The Company and Transmissora Aliança de Energia Elétrica S.A. (“Taesa”) each hold 50% interest in the project. The project is located in the states of Bahia and Minas Gerais and involves the installation of 338 km of transmission lines. In May 2019, ISA CTEEP obtained the Installation License from IBAMA for the project and works began in 2Q19.

IE Aimorés
IE Aimorés is responsible for executing Lot 4 won at Auction 013/2015 held by ANEEL in October 2016. The Company and Taesa each hold 50% interest in the project. The project is located in Minas Gerais and involves the installation of 208 km of transmission lines. In April 2019, IBAMA issued the installation license and works began in 2Q19.

IE Ivaí
IE Ivaí is responsible for executing Lot 1 won at Auction 05/2016 held by ANEEL in April 2017. The Company and Taesa each hold 50% interest in the project. The project is located in Paraná and involves the construction of three substations with total capacity of 2,988 MVA, besides the installation of 600 km of double-circuit transmission lines, totaling 1,200 km. Works began in October 2019.

Minuano Project
The Minuano Project is responsible for executing Lot 3 won at Auction 02/2019 held by ANEEL in December 2019. The project is located in the state of Rio Grande do Sul and involves the construction of an 800 MVA substation and 169 km of transmission lines. In 4Q20, the project obtained the installation license for the Caxias Norte substation. Works began in April 2020. The licensing process for the transmission lines is in progress and is expected to be obtained in 1Q22. This concession agreement is in the subsidiary Evrecy.

Três Lagoas Project
The Três Lagoas Project is responsible for executing Lot 6 won at Auction 02/2019 held by ANEEL in December 2019. The project is located in the states of São Paulo and Mato Grosso do Sul and involves the installation of 37 km of transmission lines and the expansion of two substations. The installation license for the project was obtained in January 2021. Works began in April 2021. This concession agreement is in the subsidiary IE Tibagi.

Triângulo Mineiro Project
The Triângulo Mineiro Project is responsible for executing Lot 7 won at Auction 02/2019 held by ANEEL in December 2019. The project is located in Minas Gerais and involves the construction of four substations with total power of 1,600 MVA, as well as approximately 173 km of transmission lines. The installation license is expected in 4Q21. This concession agreement is in the subsidiary IEMG (Interligação Elétrica de Minas Gerais S.A.).

Riacho Grande Project
The Riacho Grande Project is responsible for executing Lot 7 won at Auction 01/2020 held by ANEEL in December 2020. The project involves the installation of 63 km of 800 MVA transmission lines to supply energy to the Northern, Southern and Eastern regions of the city of São Paulo and the ABC region. The installation license is expected to be obtained in 2Q23.

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Updated on March 18, 2022.