Miguel Setas confirmed in new global position in the EDP group | EDP Brasil

EDP – Energias de Portugal, controller of EDP Brasil, elected this Tuesday morning (19th) the members who will compose its global Executive Board of Directors (CAE) for the 2021-2023 term. The new composition includes Miguel Stilwell de Andrade, as Chairman of the CAE, in addition to Miguel Setas, Rui Manoel Rodrigues Lopes Teixeira, Vera Pinto Pereira and Ana Paula Garrido Pina Marques.

Miguel Setas will run the global network platform (Distribution and Transmission), with operations in Portugal, Spain, Brazil and Macau. Due to the new global responsibility, he will leave the executive leadership of the Company, but will assume the chairmanship of the Board of the Brazilian subsidiary, with appointment to be deliberated at the General Meeting of Shareholders of EDP Brasil scheduled for February 19th. At the same time, the appointment of Portuguese executive João Marques da Cruz for the position of CEO in the country will also be deliberated. He has more than 15 years of experience as a member of the Executive Board of Directors of EDP.

In addition, Rui Teixeira, Vera Pinto Pereira and Ana Paula Garrido will be on the Board. If these proposals are approved at the aforementioned Extraordinary General Meeting, the Board of EDP Brasil, which already has the participation of Juliana Rozenbaum, will have 33% female representation, triple the national average, maintaining its goal of being an increasingly more inclusive company.

Miguel Setas assumed the executive chairmanship of EDP Brasil in 2014. During his term, the Company achieved a prominent position in areas such as innovation, sustainability, corporate governance and social responsibility, and expanded its business into new markets, such as transmission and distributed generation. During the period, EDP Brasil increased its geographic presence, entering states such as Santa Catarina, Mato Grosso, Pará, Amapá, Maranhão, Minas Gerais and Rio Grande do Sul. The company is currently valued at four times more than when its capital was listed on the stock exchange (2005), having doubled its market value in recent years between 2016 to 2020, going from R$ 5.7 billion to R$ 12 billion.

Under his management, in 2018 and 2019, EDP achieved the best financial results of its history in Brazil and became recognized in the market for anticipating the delivery of large infrastructure works, in addition to having entered the Transmission and Distributed Generation segments. Between 2014 and 2018, three hydroelectric plants were delivered in advance against the schedule of the National Agency of Electrical Energy (Aneel) and, in 2018 and 2020, two batches of transmission lines completed before the regulatory schedule. Also in 2020, the Peixe Angical and Lajeado plants, both managed by EDP, took first and second positions in Aneel's ranking of the best hydroelectric plants in operation in the country.

"I am sure that the future of EDP Brasil will be one of great success. Over these years, with the help of the entire team, we have built a solid company, a reference not only for its business, but also in areas such as innovation, sustainability, corporate governance and social responsibility. Until February 19, I will be focused on ensuring a smooth transition to the next executive leadership of the company", says Miguel Setas, president of EDP no Brasil.

About EDP in Brazil

With over 20 years of experience, EDP is one of the largest private companies in the electricity sector operating throughout the value chain. The Company, which has more than 10,000 direct and outsourced employees, has six hydroelectric and one thermoelectric generation units, in addition to operating in Transmission, Commercialization and Energy Services. In Distribution, it serves about 3.5 million customers in São Paulo and Espírito Santo, in addition to being the main shareholder of Celesc, in Santa Catarina. In 2020, it was elected the most innovative company in the electricity sector by the Valor Inovação ranking, of the Valor Econômico newspaper, and is a reference in Governance and Sustainability, having been on the B3 Corporate Sustainability Index (ISE) for 15 consecutive years.

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