CPFL Renováveis is the largest renewable energy company in Brazil with 1.7GW of contracted capacity. The presentation discusses Brazil's growing renewable energy market and favorable conditions for wind and hydro power. It provides an overview of CPFL Renováveis' diversified portfolio across sources and regions, as well as its track record of developing and acquiring projects. Performance details for wind, hydro, and biomass generation assets indicate high load factors. Recent projects commissioned and under construction are highlighted. Provisional Measure 579 is not expected to significantly impact CPFL Renováveis due to the long-term nature of its contracts and assets.

1. CPFL Energias Renováveis
Miguel Abdalla Saad
CEO of CPFL Renováveis

2. Disclaimer
This presentation may contain statements that represent expectations about future events or results
according to Brazilian and international securities regulators. These statements are based on certain
assumptions and analysis made by the Company pursuant to its experience and the economic
environment and market conditions and expected future events, many of which are beyond the
Company's control. Important factors that could lead to significant differences between actual results and
expectations about future events or results include the Company's business strategy. Brazilian and
international economic conditions, technology, financial strategy, developments in the utilities industry,
hydrological conditions, financial market conditions, uncertainty regarding the results of future
operations, plans, objectives, expectations and intentions, among others. Considering these factors, the
Company's actual results may differ materially from those indicated or implied in forward-looking
statements about future events or results.
The information and opinions contained herein should not be construed as a recommendation to
potential investors and no investment decision should be based on the truthfulness, timeliness or
completeness of such information or opinions. None of the advisors to the company or parties related to
them or their representatives shall be liable for any losses that may result from the use or contents of
this presentation.
This material includes forward-looking statements subject to risks and uncertainties, which are based on
current expectations and projections about future events and trends that may affect the Company's
business.
These statements may include projections of economic growth, demand, energy supply, as well as
information about its competitive position, the regulatory environment, potential growth opportunities
and other matters. Many factors could adversely affect the estimates and assumptions on which these
statements are based.

3. Agenda
Renewable Energy in Brazil
CPFL Renováveis
Operational Performance
PM 579

4. Agenda
Renewable Energy in Brazil
CPFL Renováveis
Operational Performance
PM 579

5. Renewable Energy with a high potential for growth
Forecast for growth in renewable energy in Brazil at a CAGR of 8.5%, from 13.7 GW in
2011 to 36.1 GW in 2021, in a highly fragmented market
Potential to be developed in Brazil Highly Fragmented Market
Market Share of Renewable Energy in
Brazil based on energy
(18 GW)
Evolution in Installed Capacity
by Source | GW
CAGR = +4.6% 182
116
2011 2021
Hydro Natural gas Others Renewables
Source: ANEEL; PDE 2021 and the Company; 1) Projected for 2021

6. The Renewable Energy segment still represents a small
share (~12% of domestic Generation capacity)
Distribution of installed capacity by energy source and region, 2011 (%)
Others(2) Renewables
Natural Gas 8.9 GW 13.7 GW Wind SHPP
10.2 GW 1.4 GW 4.6 GW
Hydro(1) Biomass
83.6 GW 7.8 GW
Although wind energy represents only 10% of the installed capacity of renewable sources, this
source will reach 9.4 GW in 2016 – considering the projects contracted
Source: Ten Year Energy Plan, PDE 2021.
(1) Hydro includes energy imported from Itaipu. (2) Others: Uranium, coal, fuel oil, diesel oil and process gas

7. Brazil has exceptional wind conditions in addition to
benefiting from technological change
Differentiated position for wind energy in Brazil due to exceptional natural wind
conditions combined with recent advances in technology
Wind characteristics in Brazil are better suited for energy generation
Area Area Area
89% 95% 99%
Significant technological advances in recent years
180
100m
160
3.000kW
140
Rotor Diameter (m) 80m
Rating (kW) 1.800kW
120
70m
1.500kW
100
+ +
Altura(m)
50m
80 750kW
30m
60
300kW
17m
40
75kW
20
0
1980- 1990- 1995- 2000- 2000- 2010
1990 1995 2000 2005 2005

8. Comparison of load factors for wind farms in Brazil and the
world
The combination of superior tailor-made technology for a country with favorable wind
conditions allows Brazil to present the largest capacity factors in the world
Power curve by technology and by geography
Load factors
Older Equip. : 24% - 30% 25% - 36% 33.8%1
Current Equip.: 37.0% 42.2% 49.2% (2009-2011) | 53.2% (2011-2012)
Case Study 51.30%²
SIIF Wind Farms 39.24% 39.61%
1) Rate of efficiency with smaller turbines. These models do not exist nor are they being built in Brazil. Net efficiency rate – disconsiders aerodynamic and
electrical losses and unavailability; 2) Simulation by CPFL Renováveis based on wind certifications. Net efficiency rate – disconsiders aerodynamic and
electrical losses and unavailability.

9. Positive factors favor renewable energy sources
The renewable energy segment in Brazil enjoys benefits that maximize returns and
are sustainable in the long term
Source: Company; 1) Taxes on earnings

10. Agenda
Renewable energy in Brazil
CPFL Renováveis
Operational Performance
PM 579

11. Overview of CPFL Renováveis
# 1 in Renewable Energy in Brazil with 1.7 GW of capacity contracted
Capability of developing 3.0 GW in high quality pipeline
Contracted Installed Capacity (MW) Pipeline(2) Total
Solar
SHPP
Biomass
Wind
In operation1 2013 2015 Assets with Highly Reliable Probably Possible Total
PPA
1) Includes the completion of 7 (seven) wind farms in Santa Clara Complex, a total of 188 MW that are already capable of generating energy and
receiving revenues related to the contracted at the Reserve Energy Auction (LER) held in 2009 – dependent of the completion of the construction of the
ICG (Installation of the Private Interest Transmission Line for Generation under Shared Connection).
2) Highly reliable projects are those that are ready to sell energy and have a prior environmental license and concluded technical studies. Probable
projects are those that will be ready to sell energy within the next 2 – 3 years and have received technical approval from ANEEL. Possible projects are
those that will be ready to sell energy within 4 – 5 years and have preliminary study approval from ANEEL.

12. Track Record
1) The difference between total contracted energy of 1,735 MW and 1,611 MW (under construction + acquisitions) is due to some SHPPs previously owned by CPFL Energia

13. Leadership with a Diversified, High Quality Portfolio
Geographic diversification of Sources Large Scale and the Only Player with
diversified Sources in the Renewable
Wind Energy Portfolio
Installed Capacity
Good location because of
Energy Sector1
the quality of the winds
Solar
SHPP
Biomass
Wind
Total: 1,735 MW
Biomass Portfolio close
to centers of
production of
sugarcane
In operation:
Hydro
Wind
Biomass
Solar
Under construction:
Hydro
Wind SHPP Portfolio Solar
Biomass Abundant water SHPP
resources
Biomass
Wind
SHPP potential (Southeast and Center-West Regions)
Wind potential (Northeast and South Regions)
Source: Company and BIG – Generation Information Bank – ANEEL; 1) Will be operational by the end of 2015

14. Projects concluded in 2012
In 2012 CPFL Renováveis concluded the construction of 4 assets, and 284 MW of installed capacity in
operation were added to the portfolio
Ipê Pedra Santa Clara Tanquinho
• Source: Biomass • Source: Biomass • Source: Wind • Source: Solar
• Installed Capacity: • Installed Capacity: • Installed Capacity: • Installed Capacity:
25MW 70MW 188MW 1.1MW
• Contracted Energy: • Contracted Energy: • Contracted Energy: • Contracted Energy:
8.2MW 24.4MW 75.8MW 0.19MW (2)
• Operation: May • Operation: May 2012 • Operation: July • Operation:
2012 2012(1) November 2012
(1) These facilities are ready to operate and generate energy but are waiting for the construction of the ICG to be concluded before beginning
operations. The Company is receiving the revenues related to the contracted energy in the Reserve Energy Auction (LER) of 2009
(2) PPA from Jan/2013 through Dec/2037

15. Acquisitions concluded in 2012
318 MW in projects under construction or in operation were acquired in
2012
Bons Ventos Atlântica Ester
Complex Complex Power Plant
• Source: Wind • Source: Wind • Source: Biomass
• In Operation • Under Construction • In Operation
• Installed Capacity: 157.5 • Installed Capacity: 120 • Installed Capacity: 40 MW
MW MW • Contracted Energy: 7.0
• Contracted Energy: 62.8 • Contracted Energy: 52.7 MW
MW MW • Closing of the Operation:
• Closing of the Operation: • Closing of the Operation: October/2012
June/2012 March/2012

16. Other Assets in Operation
SHPP Biomass Wind
Ninho da Águia – MG (10 MW) Baia Formosa– RN (40 MW) Icaraizinho– CE (55 MW)
Americana – SP (30 MW) Bio Buriti – SP (50 MW) Paracuru – CE (25 MW)

17. Projects under construction
Commercial start up in 1H13 | 120 MW/47 MW average
(e) (MW) (MWavg) (e)
96% concluded
BNDES funding Alternative
1Q13 20 11.1 (63% debt / Sources Auction
37% equity) Aug/10
Salto Góes SPP
46% concluded
BNDES funding
(approved, in
2Q13 50 18.0 Free Market
contracting
process)
Coopcana TPP
49% concluded
BNDES funding
(approved, in
2Q13 50 18.0 Free Market
contracting
Alvorada TPP process)

18. Projects Under Construction (Cont.)
Commercial start up in 2H13 | 228 MW/105 MW average
(e) (MW) (MWavg) (e)
37% concluded
Alternative
BNDES funding
3Q13 78,2 37.5 Sources Auction
(under review)
Aug/10
Macacos I wind farm1
9% concluded
BNDES funding Reserve Auction
3Q13 30 15.0
(under review) Aug/10
Campo dos Ventos II
23% concluded
Alternative
BNDES funding
3Q13 120 52.7 Sources Auction
(under review)
2010
Atlântica wind farm2

19. Projects Under Construction (Cont.)
Commercial start-up in 2015 | 254 MW/129 MW average
(e) (MW) (MWavg) (e)
9% concluded
BNDES funding
1Q15 82.0 40.2 Free market
(under review)
8% concluded
BNDES funding
3Q15 172.0 89.0 Free market
(under review)
1) Campo dos Ventos I, III, V 2) Ventos de São Benedito, Ventos de Santo Dimas, Santa Mônica, Santa Úrsula, São Domingos and Ventos de São Martinho

20. Agenda
Renewable Energy in Brazil
CPFL Renováveis
Operational Performance
PM 579

21. Performance of CPFL Renováveis’ Generation of Wind Energy
CPFL Renováveis already has a history of high efficiency.
Real output over the last 12 months is greater than the certified load factor.
SiiF wind farms
Bons Ventos wind farms
Certified Load Factor Real UDM Load Factor1 Rate of Efficiency Consolidated UDM Real
Load Factor 1
Source: Company; (1) Last 12 months beginning Nov/11

22. Performance of Hydro Power Generation of CPFL Renováveis
2012 recorded rainfall levels that were much lower than the historical average.
Nevertheless, our SHPPs were part of the MRE, mitigating the impact.
Physical Guarantee (MWavg) Generated energy (MWavg)1 Efficiency
(1) Last 12 months beginning Nov/11

23. Performance of Biomass Generation of CPFL Renováveis
Thermoelectric power plants powered by biomass have a total
installed capacity of 270 MW in operation
September/2011
59.1(3) October/2011
May/2012
May/2012
October/2012
(incorporation)
• Adjustments in the steam production at Bio
Pedra TPP at the beginning of the harvest; and
• The drought in the Northeast Region, which
Expected affected the production of bagasse at Bio
Physical Generated Energy Nov - Dec/12 Efficiency
guarantee (MWavg)2 Rate Formosa.
(MWavg)
(MWmed)
In both cases the effects were mitigated: in Bio
(1) Does not include Ester Plant Pedra with a lower capex, and in Baia Formosa
(2) Accumulated through October/2012 through contractual protection.
(3) Estimated through December 31, 2012

24. Agenda
Renewable Energy in Brazil
CPFL Renováveis
Operational Performance
PM 579

25. Impact of PM 579 on CPFL Renováveis
Provisional Measure 579, published by the Federal Government on
September 11, 2012, will not bring significant impact on CPFL Renováveis
• Our first concessions expire in 2027 (58.6 MW average)
• Authorizations expire between 2029 and 2046
• Reductions in the price of re-contracted energy (which does not affect
current PPAs)
• Uncertainties about the renewal of concessions and authorizations

26. CPFL Energias Renováveis
Miguel Abdalla Saad
CEO of CPFL Renováveis