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Presentation cpfl energia ersa_jv_20abr11

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  • 1. April | 2011
  • 2. Joint venture details • Joint venture between CPFL Energia and ERSA will incorporate one of the largest Renewable Energy Companies in Latin America, consolidating the Wind, Biomass and Small power plant (PCH) generation assets of both companies2
  • 3. Joint venture details • Joint venture between CPFL Energia and ERSA will incorporate one of the largest Renewable Energy Companies in Latin America, consolidating the Wind, Biomass and Small power plant (PCH) generation assets of both companies • Incorporation of CPFL Energias Renováveis. Through its 63.6% subsidiaries CPFL Geração and CPFL Brasil, CPFL Energia will + have 63.6% stake (major shareholder). ERSA’s current shareholders will have 36.4% stake 36.4% =3
  • 4. Joint venture details • Joint venture between CPFL Energia and ERSA will incorporate one of the largest Renewable Energy Companies in Latin America, consolidating the Wind, Biomass and Small power plant (PCH) generation assets of both companies • Incorporation of CPFL Energias Renováveis. Through its subsidiaries CPFL Geração and CPFL Brasil, CPFL Energia will have 63.6% stake (major shareholder). ERSA’s current +40% shareholders will have 36.4% stake 906 648 • CPFL Renováveis will begin its operations with 648 MW of installed capacity (Aug, 11). By the end of 2012, the company will reach 906 MW installed capacity (+40%), with the start-up of Santa Clara I to VI and Eurus VI wind farms and CPFL Bio Pedra biomass power plant Inst. Cap.Aug, 11 Inst. Cap. 2012(e) (MW) (MW)4
  • 5. Joint venture details • Joint venture between CPFL Energia and ERSA will incorporate one of the largest Renewable Energy Companies in Latin America, consolidating the Wind, Biomass and Small power plant (PCH) generation assets of both companies • Incorporation of CPFL Energias Renováveis. Through its subsidiaries CPFL Geração and CPFL Brasil, CPFL Energia will 648 MW operating have 63.6% stake (major shareholder). ERSA’s current shareholders will have 36.4% stake + 386 MW under construction • CPFL Renováveis will begin its operations with 648 MW of installed capacity (Aug, 11). By the end of 2012, the company will + reach 906 MW installed capacity (+40%), with the start-up of 3.341 MW under Santa Clara I to VI and Eurus VI wind farms and CPFL Bio Pedra preparing for construction and biomass power plant development 4.375 MW • There are additional 386 MW generation capacity under construction and 3,341 MW under preparing for construction and development. The total portfolio shall sum 4,375 MW5
  • 6. Rationale of the Join Venture The transaction creates a company focused on the development of renewable energy, with a distinctive asset portfolio of high quality diversified by type of Focus source, experienced teams, operating synergies, Quality successful track record of its shareholders in the Experience development of generation projects and opportunities for accelerated growth Synergy Entrepreneurialism Growth6
  • 7. Partners’ corporate overview• Largest private player in the Brazilian Electric • One of the main companies in Brazil in the Sector, leadership in the distribution and segment of small and medium power energy commercialization business and the second private generation units exclusively from renewable player in the generation business sources.• Investment in the construction and development of • Recognized as a reference in developing biomass power plants innovative engineering solutions for small power plants and training in wind farms projects.• Recognized as an international benchmark in corporate governance, sustainability and corporate • Extensive knowledge in environmental permitting excellence procedures.• Success enabling 13 wind farms currently under • Accelerated growth of generating installed construction and in the recent acquisition of four capacity, through an unprecedented feat: operating wind farms and 867 MW portfolio of simultaneous construction of nine small projects. hydroelectric power plants.• Shares listed on the New York Stock Exchange • Commitment to growth, financial discipline, (ADR level III) and Bovespa’s Novo Mercado, the transparency and sustainable value creation for its highest levels of corporate governance, having the stakeholders. access to local and international capital markets. • Dynamic group of professionals, highly specialized.• Leadership and 100 years of experience and knowledge of the Brazilian energy market.7
  • 8. Corporate structure1 Current corporate structure considering the projects involved in the joint venture 100% 100% Santa Clara from I to VI and Eurus VI Wind Farms Campo dos Ventos from I to V and Eurus V Wind farms SIIF Wind Farms8
  • 9. Corporate structure1 Current corporate structure considering the projects involved in the joint venture2 Incorporation of Nova CPFL company and migration of all of the renewable generation assets of CPFL Brasil and CPFL Geração to Nova CPFL 100% 100% Nova CPFL Wind Biomass Small power plants (SPPs)9 1) Wind, biomass and small power plants
  • 10. Corporate structure 1 Current corporate structure considering the projects involved in the joint venture 2 Incorporation of Nova CPFL company and migration of all of the renewable generation assets of CPFL Brasil and CPFL Geração to Nova CPFL 3 Merger of Nova CPFL by ERSA and the incorporation of CPFL Energias Renováveis 9.3% 9.1% 7.5% 2.2% 4.9% 2.4% 1.0% 100% 100% Outros 63.6% 36.4% Financial resources provided by stockholders (cash) – R$ million CPFL 250 ERSA 321 Total 57110
  • 11. Corporate structure after the joint venture | current 9.3% 9.1% 7.5% 4.9% 3.2% 2.4% 100% 100% 63.6% 36.4% Small power plants (SPPs) Biomass Wind • Operating: 278 MW • Operating: 160 MW • Operating: 210 MW • Under construction: 20 MW • Under construction: 70 MW • Under construction: 296 MW • Under development: 508 MW • Under development: 1,361 MW • Under development: 1,472 MW Total: 806 MW Total: 1,591 MW Total: 1,978 MW Total: 4,375 MW11
  • 12. CPFL Energia | Installed capacity features Installed capacity | Renewable (MW) Wind, biomass and small power plants (SPPs) 1,641 2,423 288 494 Operating (Aug, 11) Under construction Under development1 Total Wind: 210 Santa Clara from I to VI and Eurus VI: 188 Wind: 705 Wind : 1.133 Biomass: 160 Campo dos Ventos II: 30 Biomass: 889 Biomass: 1.119 SPPs: 124 CPFL Bio Pedra: 70 SPPs: 46 SPPs: 170 Installed capacity evolution (MW) 2,423 CAGR 2011-2015: 33,4% 1,563 1,256 752 903 494 2011 2012 2013 2014 2015 after 201512 1) Takes into account Jantus II wind farms (Quintanilha Machado)
  • 13. ERSA | Installed capacity features Installed capacity | Renewable (MW) 1,700 1,952 Wind, biomass and small power plants (SPPs) 155 98 Operating (Aug, 11) Under construction Under development1 Total SPPs: 155 Wind: 78 Wind: 767 Wind: 845 SPPs: 20 Biomass: 472 Biomass: 472 SPPs: 461 SPPs: 636 Installed capacity evolution (MW) CAGR 2011-2015: 35,9% 1,952 436 529 155 155 271 2011 2012 2013 2014 2015 after 201513
  • 14. CPFL Energias Renováveis | Installed capacity 4.375 Installed capacity | Renewable (MW) Wind, biomass and small power plants (SPPs) 3.341 648 386 Operating (Aug, 11) Under construction Under development Total Total | 4,375 MW Installed capacity evolution (MW) 4,375 SPPs CAGR 2011-2015: 34,0% 18% 2,092 Bios 1,692 36% 907 1,174 Wind 648 45% 2011 2012 2013 2014 2015 Total14
  • 15. Location of the energy power plants Assets - MW SPPs Wind Biomass Operating 278 210 160 Under construction 20 296 70 Under development 508 1.472 1.361 Total 806 1.978 1.591 Operating/under construction Assured energy – AvgMW Aug, 2011 % CPFL 330 70% ERSA 143 30% Total 47315 Aug, 2011
  • 16. April | 2011