F e b r u a r y 2 0 2 2
A Leading Platform
in the Brazilian Renewable Sector
Disclaimer
This presentation is intended for informational purposes only and shall not constitute or be interpreted by anyone as an offer to sell or purchase any securities, equity or otherwise, nor to request any indication of voting or approval rights regarding any sale or purchase of any securities, equity or otherwise or in connection with the proposed transactions contemplated hereby or elsewhere.
The summary statements contained in this document have a certain degree of risk and uncertainty relating to business prospects, financial, strategic and economic projections, among others, and such information is based on assumptions, data and expectations that, although considered by VTRM Energia Participações S.A. (the "Company"), may not be accurate, materialize or be under the Company´s control. Due to these factors, the actual results may differ materially from those indicated or implied by this material.
The Company does not guarantee, in any form or to any extent, that the trends herein disclosed shall be confirmed. The information and opinions contained in this presentation should not be considered as a recommendation for investment, which should not be based solely on the truthfulness, timeliness or completeness of such information or opinions. None of the Company's representatives, advisors or related parties shall be liable for any losses that may arise from the use, or the information contained in this material.
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Brazil's Renewable Energy Platform
3.3 GW
Installed
Capacity1
Among Brazil's leading
energy companies in terms
of installed capacity
Wind
Hydro | +2.3GW |
Assets | of Installed |
(9 HPPs) | |
Capacity | |
1.9 GW
Pipeline2
2.6 GWavg
Commercialized3
R$1.4 bn
Adjusted EBITDA 20204
New projects sustaining
long-term growth
One of the largest trading companies in Brazil, with considerable expertise and capacity to meet the free market growth
Strong financial
capacity
Assets
(31 Wind
Farms)
2052
Authorization
Term6
974MW5
of Installed
Capacity
85%
Contracted
Energy up to
2032 -
ANEEL Auctions
+60%
Contracted Energy
up to 2032
2049
Concession
Term5
Among
Leaders
in Brazil
+2.6GWavg
traded in 20207
500+ Energy
Clients Trading
Source: Company
Notes:
- Considers operational assets (2.9GW) and wind projects under construction (0.4GW). For hydro assets, considers 100% of the capacity of Pollarix, VC Pinheiro Machado and CBA Energia
- Considers solar, hybrid and hydro projects under development
- Fiscal Year 2020. Considers CESP + Votorantim Energia
[4] VE's share in the hydro assets is considered for calculating Adjusted EBITDA
[5] | Considers VdP I, VdA III and VdP II and III | |
[6] | Weighted average by installed capacity | |
[7] | Considers the commercialized volume of Votorantim Energia and CESP | | 3 |
Shareholders with Long-Term Commitment | |||||
New VTRM will be listed on B3's Novo Mercado and supported by strong sponsorship | |||||
Resulting Ownership Structure | Controlling Shareholders | ||||
Shareholders' Agreement | |||||
Free Float | One of the largest | Unique know-how of | Strong value | ||
Brazilian | the Brazilian energy | creation track | |||
conglomerates | market | record | |||
37.74% | 31.94% | 30.32%1 | |||
High corporate | Excellent track-record | Global knowledge | |||
New | governance | of investments | of the energy | ||
standards | in Brazil | sector, with | |||
VTRM | multiple successful | ||||
Board of Directors | cases | ||||
Fabio Zanfelice | Ricardo Szlejf | ||||
New VTRM | |||||
Sergio | |||||
João | Romani | ||||
Independent | |||||
Schmidt | |||||
Hydro | Wind | Energy | |||
Assets | Assets | Trading | |||
Marcos Pinto | Mateus Ferreira | ||||
Independent | |||||
Edwina Kelly |
Note: | | 4 |
[1] Does not consider the exercise of minorities' withdrawal rights. Assuming no issuance of preferred redeemable shares (and still not considering the exercise of withdrawal rights), the resulting free float stake would be 30.63% | |
Investment Thesis
Sector in Transformation
- Secular renewables growth boosted by a strong and tangible modernization agenda as well as the expansion of the free market
- Multiple growth opportunities related to decarbonization of several sectors of the economy and new demands from clients
100% Renewable with Scale, Competitive, Diversified with Long Duration
- 100% renewable, diversified and complementary portfolio of assets with installed capacity of +3.3 GW
- Assets with long duration, attractive PPAs and high quality off-takers in the free market
- Wind assets strategically located in the 1st quartile among Brazilian wind farms and large hydro assets with high energy generation track record
Leading Position in Energy Trading with Broad Market Intelligence
- Centralized market intelligence with capacity to optimize current assets, originate PPAs and capture the growth of the Brazilian free market
- Capacity to develop new solutions and optimize the portfolio's current energy trading operations
Experienced Management Team with Unique Industry Knowledge and High ESG Standards
- Proven track record built over decades of experience in the Brazilian energy sector
- Commitment to high ESG standards
Clear Growth Strategy
- Proven track record of growth combined with solid financial capacity
- Tangible, well-mapped growth strategy with 1,954 MW under development, added to multiple M&A opportunities
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CESP – Companhia Energética de São Paulo published this content on 18 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 February 2022 11:00:05 UTC.