Sustainability Report ENEVA 2020
10.2.1 Investments
In 2020, we invested R$2.3 billion, more than double the amount recorded in 2019, with 84% of the funds in 2020
allocated to the construction of the Azulão-Jaguatirica integrated project and the Parnaíba V TPP, scheduled to
start operating in 2021 and 2022, respectively.
Capex
R$ million
B
TRANSITION BOND
SITAWI Finanças do Bem
www.sitawi.net
In September 2020, SITAWI Finanças do Bem issued an opinion on the Transition Bond classification,
in the amount of R$574 million, of our 2nd series of the 6th debenture issue.
2019
2020
Change (%)
Coal Generation
83.6
37.9
(54.7)
Gas Generation
109.0
135.2
24.0
Parnaíba V
364.7
705.3
93.4
Azulão-Jaguatirica
300.2
1,209.3
302.8
Upstream
163.8
174.8
Distributed Generation
14.5
(0.9)
6.7
(105.8)
Holding
20.5
10.7
(47.8)
Total
1,056.2
2,272.4
115.1
10.2.2 Indebtedness
In December 2020, our consolidated gross debt totaled R$7,143 million, an increase of 26.3% over the previous
year, as a reflection of investments in the implementation of Parnaíba V and Azulão-Jaguatirica. The average
maturity of the consolidated debt was 6.0 years.
As a result of our ongoing liability management efforts, we continue to improve our debt profile. At the end of 2020,
our consolidated net debt was R$5.2 billion, equivalent to a net debt/EBITDA ratio of 3.3x.
THE FUNDS WILL BE USED TO IMPLEMENT
THE PARNAÍBA V AND AZULÃO-JAGUATIRICA PROJECTS.
SITAWI used its proprietary valuation method, which, in the absence of principles for transition
bonds, is aligned with AXA IM's Guidelines for Transition Bonds, Green Bond Principles (GBP), the
International Finance Corporation (IFC) Performance Standards, the publication Don't Lose This
Bond4, and other internationally recognized sustainability standards.
SITAWI's opinion is based on:
Analysis of the issue according to the bond indenture
and our financial statements;
Socio-environmental performance of the projects according to the
licensing process and management procedures;
Performance of the corporate ASG5.
The analysis used information and documents provided by us, some of them confidential, desk
research, and interviews with teams responsible for the debenture issue, the projects, and
business management. This process was carried out in August and September 2020. SITAWI
had access to all documents and persons requested, and can therefore provide an opinion
with a reasonable level of assurance regarding completeness, accuracy, and reliability.relação a
completude, precisão e confiabilidade.
ABOUT
THIS REPORT
LETTER FROM
MANAGEMENT
ABOUT
FIGHTING
ENEVA
COVID-19
INTELLECTUAL &
ORGANIZATIONAL
CAPITAL
MANUFACTURED
CAPITAL
HUMAN
CAPITAL
SOCIAL &
RELATIONSHIP
CAPITAL
NATURAL
CAPITAL
FINANCIAL
CAPITAL
APPENDICES
GRI
CONTENT
INDEX
SASB
CONTENT
INDEX
SUSTAINABILITY REPORT ENEVA 2020
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