REPORT OF FACTUAL FINDINGS (AGREED-UPON PROCEDURE)

Vigeo Eiris conducted a pre-issuance verification of AES Tietê Energia's 2019 Green Bond, confirming that the proceeds intended for the Guaimbé and AGV solar power plants in Brazil meet the Climate Bonds Standard version 2.1 and Solar Sector Criteria version 2.0. The bond, with anticipated proceeds up to BRL 820 million, aims to finance projects with a total installed capacity of 225 MW and an expected annual electricity generation of 480 GWh. The verification found that the projects are eligible under the 'Solar' classification of the Climate Bonds Taxonomy and that the issuer has established appropriate internal processes for tracking proceeds and managing unallocated funds.

• The Green Bond proceeds are designated for the Guaimbé and AGV solar power plants in São Paulo, Brazil, which are managed through eight specific Special Purpose Vehicles (SPVs).
• The selected solar projects have a total installed capacity of 225 MW and are expected to generate 480 GWh of electricity annually.
• The projects are expected to avoid 35.6 thousand MtCO2e per year in total, with 34.1 thousand MtCO2e per year attributed to the share financed by the Bond, based on the 2018 Brazilian energy matrix (0,074 tCO2e/MWh).
• 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 projects.
• The issuer has committed to a review of the bond 12 months after issuance to ensure continued conformance with the Climate Bonds Standard.
• Vigeo Eiris verified that the bond's management processes include the use of segregated accounts for tracking proceeds and the use of cash equivalent instruments for unallocated funds.

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} }