ENEVA signs the agreement to maintain Parnaíba II Power Purchase Agreements
Rio de Janeiro, November 21, 2014 – ENEVA S.A. (“ENEVA” or “Company”) (BM&FBOVESPA: ENEV3, GDR
I: ENEVY), pursuant to the Notice to the Market dated September 5, 2014, informs its shareholders and the
market in general that signed yesterday the agreement with Aneel – Brazil’s National Electric Energy
Agency that adjusts power supply obligations of the Parnaíba II CCGT (“Parnaíba II” or “Plant”).
The final terms and conditions of the agreement include:
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Postponement of the PPAs – Power Purchase Agreements of the Plant, which will be effective from July
1, 2016 to April 30, 2036;
Generation replacement of Parnaíba I OCGT by Parnaíba II, until June 30, 2016, which procedure allows
power production with optimized use of natural gas resources;
Reduction of Plant’s fixed revenue totaling R$334,115,075.94, to be paid for in installments as of
January 2022, as tariff contribution. The reduction amounts to R$13,042,343.69 per year between 2022
and 2025, and to R$25,631,427.38 per year between 2026 and 2036, adjusted by inflation (IPCA); and
Commitment to close the cycle of the four gas turbines of Parnaíba I OCGT in up to five years from the
signing of the agreement. The energy of such project should be fully sold in the regulated market
through an appropriate auction. The regulator may postpone the indicated period of time whether the
auction has not been conducted.
In case of breach of any of the terms and conditions abovementioned, a 20% increase over the amount of
the reduction in Plant’s fixed revenue will apply.
The Company reaffirms that the terms and conditions of the agreement represents a balanced solution,
preserving the project’s economic feasibility and the fulfillment of an important power supply contract to
the Brazilian consumer.
Additionally, ENEVA informs that, with the completion of the construction of Parnaíba II, commissioning
and testing of the Plant have already been started.
Fabio Bicudo
CEO and Investor Relations Officer
ENEVA S.A.
ABOUT ENEVA
ENEVA is a power generation and trading company, with complementary businesses in natural gas exploration and production. The Company
currently has approximately 2.4GW of gross installed capacity in operation and is building over 518MW of additional capacity, which places it
among the largest private power generation companies in Brazil. ENEVA also owns an interest in natural gas onshore blocks in the Parnaíba Basin.
Investor Relations:
Rodrigo Vilela
Carlos Cotrim
+55 21 3721-3030
[email protected]
ir.eneva.com.br
Press:
Carla Assemany +55 21 3721-3359 / +55 21 99953‐7255
Marina Duarte +55 21 3721-3373 / + 55 21 98132-0459