Oitis Wind Project receives approval for total construction

    wind energy

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​Neoenergia S.A. (“Neoenergia"), a publicly-held company enrolled with CNPJ under no. 01.083.200/0001-18, pursuant to the provisions of Law no. 6.404, as of December 15, 1976, as amended, and Instruction from the Brazilian Securities and Exchange Commission (“CVM") no. 358, as of January 3, 2002, informs the market in general that, in a Board of Directors meeting held today, the construction of the whole Oitis Wind Complex (“Oitis Complex") was approved, to be carried out by Força Eólica do Brasil S.A. (“FEB"), a Neoenergia's controlled company.

Oitis Complex is located in the states of Piauí and Bahia, and, upon its completion, will have an installed capacity of 566.5 MW and will comprise 12 Wind Parks, where two (Oitis 1 and Oitis 8) had their energy sold in the Generation Auction 003/2019, named “A-4" of 2019, held on June 28, 2019, as disclosed to the market on that date.

The 10 new parks of Oitis Complex (Oitis 2, 3, 4, 5, 6, 7, 9, 10, 21 and 22) will have their energy allocated to trading in the free market of energy, with an average capacity factor of 50%, with required CAPEX around R$1.9 billion, in real terms, an commercial start-up in mid-2022.

In addition, the contracting of all Complex wind turbines with a Tier-1 supplier was approved, as well as the granting, by Neoenergia, of all guarantees associated to projects of this kind.

Neoenergia Group already has in operation 516 MW of installed capacity from wind source and, by adding the capacity from the wind parks aforementioned, it will have a total of 1,038 MW under construction. Upon completion of all projects' implementation, the portfolio of wind power assets in operation will amount to 1.6 GW by 2022, from which 51% of energy have already been sold via Auction in Regulated Contracting Environment (ACR), while 49% are assigned to Free Contracting Environment (ACL).

This project is fully aligned with Neoenergia Group's investment policy and with its strategy of being positioned in the liberalization of Brazilian energy market.

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