Material Fact - 09/18
Review of the construction schedule
Companhia Paranaense de Energia - COPEL, a company that generates, transmits, distributes and sells power, with shares listed on the B3 (CPLE3, CPLE5, CPLE6), the NYSE (ELPVY, ELP) and the LATIBEX (XCOP), pursuant to the provisions of CVM Instruction No. 358/02, hereby announces to its shareholders and to the market in general that the construction schedule for the Cutia Wind Farm Complex and the Baixo Iguaçu Hydroelectric Power Plant were reviewed.
Cutia Wind Farm Complex
The start-up of the Cutia Wind Farm Complex, initially scheduled for July 2018, was revised to August 2018. In accordance with the Reserve Energy Agreement (CER), estimated revenue for the period between October 1, 2017 and the start-up of each generating unit of the wind farms will be retained and used to offset reimbursements due arising from any annual and/or four-year generation that is below the contracted amount. Any positive remaining amount will be recorded as credit.
It is worth mentioning that, pursuant to the CER, failure to deliver energy does not subject the seller to financial exposure in the Short-term Market.
Installed CapacityCutia Wind Farm
Auction ¹
(MW) 2, 3
Assured Power (Average MW)
Price 4
Start upCAPEX (R$ million)
Premium Value
(R$ million)Expiration of Authorization
Cutia Wind Complex
6º LER (10/31/2014)
180.6
71.4
Bento Miguel Wind Complex
20ª LEN (11/28/2014)
132.3
58.1
181.24 171.52
August-18
1,318.0
9.4 56% in January-42 44% in May-50
january-19
893.4
14.2
August-50
Total
312.9
129.5
176.88
2,211.4
23.6
¹ Types of auctions: LER - Auction Reserve Energy / LEN - New Energy Auction.
² The installed capacity of the new projects can be optimized in relation to the registered at auctions.
³ The installed capacity of the wind farms was adjusted according to Aneel 's dispatches numbers: 1,248, 1,249, 1,250, 1,251, 1,252, 1,253, 1,254, 1,255, 1,256 and 1,257 from May 8, 2017.
4 Price updated to June 2018.
Baixo Iguaçu Hydroelectric Power Plant
The start-up of the Baixo Iguaçu Hydroelectric Power Plant was revised, with the first generation unit expected to be in January 2019, while the previous information was that the start-up would be in November 2018. At the construction site, the second phase diversion activities, the assembly of the powerhouses and the spillway are fully in progress, as are the social, environmental and land-related feasibility programs.
Material Fact - 09/18
Installed CapacityPower Plants Contract (MW)Assured Power (Average MW)Energy Sold in theSupply Start (Average MW)Price¹ (R$/MWh)Concession Expires | |
HPP Baixo Iguaçu 30% Copel GeT 02/2012 de 08.20.2012 70% Geração Céu Azul S.A | 350 171.3 121.0 January 20192 174.49 10.30.2049 |
¹ Adjusted by the IPCA up to June/2018. Font: CCEE.
² The 2nd Amendment to the Concession Agreement included 756 days waiver of responsibility and Aneel Dispatch No. 3770 of November 7, 2017 included more 46 days waiver of responsibility .
Curitiba, July 27, 2018.
Adriano Rudek de Moura
Chief Financial and Investor Relations Officer
For further information, please contact our Investor Relations team:ri@copel.comor +55 (41) 3331-4011
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COPEL - Companhia Paranaense de Energia published this content on 27 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 July 2018 22:36:04 UTC