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Company increased installed capacity in renewables, positively impacting financial performance in the period

The advance of Neoenergia's renewable projects led to an increase in wind and solar generation in the third quarter of 2022 by 91.69% compared to the same period in the previous year, with a record of 1,434 GWh. In the accumulated nine months, the generation was 2,861 GWh, 84% above the same period of 2021. Availability in the quarter was above 97%, as scheduled.

The performance is due to the beginning of the commercial operation in Neoenergia Oitis, a wind complex between Piauí and Bahia; and in Neoenergia Luzia, the company's first solar park complex, located in Paraíba. The result also adds to the greater generation of Neoenergia Chafariz, a wind farm complex in Paraíba, which has been in full operation since last year.

In renewable business, Neoenergia recorded EBITDA of R$ 846 million from January to September, up 5% over the  same period last year. The segment's recorded profit was R$ 210 million in the third quarter and R$ 361 million in the first nine months of 2022.

It is worth noting that this performance positively influenced Neoenergia's financial results, which achieved an increase in Cash EBITDA of 28% in the quarter, with R$ 2.5 billion; and 39% in the accumulated, with R$ 7.2 billion. The company's profit was R$ 1.5 billion in the quarter, and R$ 3.8 billion from January to September, up 17% and 15%, respectively, in relation to the same periods of 2021.  

Investments in Renewables

The Executive Director of Renewables of Neoenergia, Laura Porto, points out that investments in the business – about R$ 1.5 billion in the year, of which R$ 354 million in the quarter – are part of the company's strategy to expand generation through clean sources. The company ended the third quarter of 2022 with 44 wind farms and two solar farms in operation and under construction.

" Our growth is based on the financial discipline of the business, the commitment to decarbonization and the development of new technologies. We believe that demand will continue to grow, especially in the free market, and renewable energies have competitiveness and attributes for a market that increasingly requires commitment to ESG practices," said Laura Porto.

Wind assets in operation total 37 parks with an installed capacity of 1,163MW. The expectation is that this portfolio will reach 1.6 GW in the coming months, of which 51% will be allocated to the Regulated Contracting Environment (ACR) and 49% to the Free Contracting Environment (FTA), aligned with the positioning strategy in the liberalization of the Brazilian energy market.

In Neoenergia Oitis, investments in turbines have already been made. The installed wind capacity at the end of September was 176MW (commercial and under test), with 47 wind turbines. In all, there will be 103 turbines, with a unit capacity of 5.5 MW, one of the most modern and efficient models in the global market.

In Neoenergia Luzia, investments reached R$ 454.2 million in the year. With 124 MWp already in operation (commercial and under test) and the rest expected to enter the coming months. All its energy is destined to the free market, and 100% is already sold by 2026. The project has synergy with two other assets of the company in the region, Neoenergia Chafariz and the transmission line Neoenergia Santa Luzia – lot 6 of the auction held by the National Electric Energy Agency (ANEEL) in December 2017.