REPORT OF FACTUAL FINDINGS (AGREED-UPON PROCEDURE)

This report by Vigeo Eiris provides a pre-issuance verification of AES Tietê Energia’s first Green Bond issuance in 2019. The verification confirms that the bond's intended use of proceeds for two solar photovoltaic power plants in Brazil aligns with the Climate Bonds Standard version 2.1 and the Solar Sector Criteria Version 2.0.

• The proceeds from the 2019 Green Bond are designated for the financing or refinancing of two solar photovoltaic power plants in São Paulo, Brazil: Guaimbé and AGV.
• The Selected Projects aim for a total installed capacity of 225 MW and an expected annual electricity generation of 480 GWh. They are projected to avoid 35.6 thousand MtCO2e per year for the whole project, with 34.1 thousand MtCO2e per year attributed to the share financed by the Bond.
• The anticipated net proceeds of the bond are up to BRL 820 million, representing 96% of the estimated total financial resources of BRL 854.2 million required for the Selected Projects. The remaining funds will be provided by AES Tietê Energia’s own capital.
• The bond's structure involves the use of eight Special Purpose Vehicles (SPVs) to manage the solar power facilities. These include five for Guaimbé (Guaimbé I through V) and three for AGV (AGV IV, V, and VI).
• AES Tietê Energia has committed to a review of the bond 12 months after issuance to reaffirm its conformance with the Climate Bonds Standard.
• The verification process included a review of the projects' compliance with national and state regulations and the International Finance Corporation (IFC) performance standards, conducted by an external reviewer, SITAWI.

APA

Climate Bonds Initiative (2019). REPORT OF FACTUAL FINDINGS (AGREED-UPON PROCEDURE). https://www.climatebonds.net/files/drupal-files/files/AES%20Tiete%20Energia%20pre%20issuance%20report%20final.pdf

Chicago

Climate Bonds Initiative. REPORT OF FACTUAL FINDINGS (AGREED-UPON PROCEDURE). 2019. https://www.climatebonds.net/files/drupal-files/files/AES%20Tiete%20Energia%20pre%20issuance%20report%20final.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=REPORT OF FACTUAL FINDINGS (AGREED-UPON PROCEDURE) |date=29 March 2019 |url=https://www.climatebonds.net/files/drupal-files/files/AES%20Tiete%20Energia%20pre%20issuance%20report%20final.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2019report, author = {{Climate Bonds Initiative}}, title = {{REPORT OF FACTUAL FINDINGS (AGREED-UPON PROCEDURE)}}, institution = {Climate Bonds Initiative}, year = {2019}, month = mar, url = {https://www.climatebonds.net/files/drupal-files/files/AES%20Tiete%20Energia%20pre%20issuance%20report%20final.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }