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Investments | 12 Months Ended
--- | ---
Dec. 31, 2023
Investments in subsidiaries, joint ventures and associates reported in separate financial statements [abstract] |
Investments | 15. INVE STMENTS
|  |  | Control |  |  | 2023 |  |  | 2022 |
Guanhães Energia S.A. ("Guanhães Energia") |  |  | Jointly controlled |  |  |  | 222 |  |  |  | 183 |
Hidrelétrica Cachoeirão S.A. ("Hidrelétrica Cachoeirão") |  |  | Jointly controlled |  |  |  | 47 |  |  |  | 47 |
Hidrelétrica Pipoca S.A. ("Hidrelétrica Pipoca") |  |  | Jointly controlled |  |  |  | 47 |  |  |  | 47 |
Madeira Energia ("MESA") (3) |  |  | Affiliated |  |  |  | - |  |  |  | 10 |
Fundo de Investimento em Participações Melbourne Multiestratégia ("FIP Melbourne") (3) |  |  | Affiliated |  |  |  | - |  |  |  | 8 |
Retiro Baixo Energética S.A. ("Retiro Baixo") (4) |  |  | Jointly controlled |  |  |  | - |  |  |  | 185 |
Aliança Norte Participações S.A. ("Aliança Norte") (2) |  |  | Jointly controlled |  |  |  | 536 |  |  |  | 576 |
Baguari Energia S.A. ("Baguari Energia") (4) |  |  | Jointly controlled |  |  |  | - |  |  |  | 160 |
Aliança Geração de Energia S.A. ("Aliança Geração") |  |  | Jointly controlled |  |  |  | 1,172 |  |  |  | 1,194 |
Amazônia Energia Participações S.A. ("Amazônia Energia") (2) |  |  | Jointly controlled |  |  |  | 819 |  |  |  | 886 |
Paracambi Energética S.A. ("Paracambi") (antiga Lightger) |  |  | Jointly controlled |  |  |  | 112 |  |  |  | 134 |
Transmissora Aliança de Energia Elétrica S.A. ("Taesa") |  |  | Jointly controlled |  |  |  | 1,565 |  |  |  | 1,549 |
UFVs (1) |  |  | Jointly controlled |  |  |  | 112 |  |  |  | 128 |
Total of investments |  |  |  |  |  |  | 4,632 |  |  |  | 5,107 |
Total |  |  |  |  |  |  | 4,632 |  |  |  | 5,107 |
(1) Set of photovoltaics business, in which the investee Cemig Sim has a interest. (2) Indirect interest in the Belo Monte plant through these investees. (3) On March 20, 2023, Cemig GT completed the sale of its direct and indirect ownership interest in the capital stock of Mesa to Furnas Centrais Elétricas S.A. ("Furnas"). More details will follow in the course of this explanatory note. (4) Cemig GT concluded the sale of its stake in the share capital of the companies Baguari Energia and Retiro Baixo to Furnas, on October 6 and November 22, 2023, respectively. Further details can be found in this note.
Investee |  |  | 2022 |  |  |  | Gain (loss) by equity method (Income statement) |  |  | Dividends |  |  | Additions / Acquisitions |  |  |  | (Others) |  | 2023 |
Hidrelétrica Cachoeirão |  |  |  | 47 |  |  |  |  | 12 |  |  |  | (12 | ) |  |  | - |  |  |  |  | - |  |  | 47 |
Guanhães Energia |  |  |  | 183 |  |  |  |  | 39 |  |  |  | - |  |  |  | - |  |  |  |  | - |  |  | 222 |
Hidrelétrica Pipoca |  |  |  | 47 |  |  |  |  | 15 |  |  |  | (15 | ) |  |  | - |  |  |  |  | - |  |  | 47 |
MESA (3) |  |  |  | 10 |  |  |  |  | (10 | ) |  |  | - |  |  |  | - |  |  |  |  | - |  |  | - |
FIP Melbourne (3) |  |  |  | 8 |  |  |  |  | 22 |  |  |  | - |  |  |  | - |  |  |  |  | (30 | ) |  | - |
Paracambi (former Lightger) |  |  |  | 134 |  |  |  |  | 15 |  |  |  | (26 | ) |  |  | - |  |  |  |  | (11 | ) |  | 112 |
Baguari Energia (4) |  |  |  | 160 |  |  |  |  | 12 |  |  |  | (12 | ) |  |  | - |  |  |  |  | (160 | ) |  | - |
Amazônia Energia (1) |  |  |  | 886 |  |  |  |  | (67 | ) |  |  | - |  |  |  | - |  |  |  |  | - |  |  | 819 |
Aliança Norte (1) |  |  |  | 576 |  |  |  |  | (40 | ) |  |  | - |  |  |  | - |  |  |  |  | - |  |  | 536 |
Taesa |  |  |  | 1,549 |  |  |  |  | 278 |  |  |  | (262 | ) |  |  | - |  |  |  |  | - |  |  | 1,565 |
Aliança Geração |  |  |  | 1,194 |  |  |  |  | 136 |  |  |  | (158 | ) |  |  | - |  |  |  |  | - |  |  | 1,172 |
Retiro Baixo (4) |  |  |  | 185 |  |  |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  |  | (191 | ) |  | (1 | )
UFV Janaúba Geração de Energia Elétrica Distribuída S.A. ("UFV Janaúba") |  |  |  | 3 |  |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  |  | - |  |  | 5 |
UFV Corinto Geração de Energia Elétrica Distribuída S.A. ("UFV Corinto") |  |  |  | 8 |  |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  |  | - |  |  | 8 |
UFV Manga Geração de Energia Elétrica Distribuída S.A. ("UFV Manga") |  |  |  | 11 |  |  |  |  | 2 |  |  |  | (1 | ) |  |  | - |  |  |  |  | - |  |  | 12 |
UFV Bonfinópolis II Geração de Energia Elétrica Distribuída S.A. ("UFV Bonfinópolis II") |  |  |  | 5 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  | - |  |  | 5 |
UFV Lagoa Grande Geração de Energia Elétrica Distribuída S.A. ("UFV Lagoa Grande") |  |  |  | 15 |  |  |  |  | 2 |  |  |  | (2 | ) |  |  | - |  |  |  |  | - |  |  | 15 |
UFV Lontra Geração de Energia Elétrica Distribuída S.A. ("UFV Lontra") |  |  |  | 18 |  |  |  |  | 2 |  |  |  | (2 | ) |  |  | - |  |  |  |  | - |  |  | 18 |
UFV Mato Verde Geração de Energia Elétrica Distribuída S.A. ("UFV Mato Verde") |  |  |  | 6 |  |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  |  | - |  |  | 6 |
UFV Mirabela Geração de Energia Elétrica Distribuída S.A. ("UFV Mirabela") |  |  |  | 4 |  |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  |  | - |  |  | 5 |
UFV Porteirinha I Geração de Energia Elétrica Distribuída S.A. ("UFV Porteirinha I") |  |  |  | 4 |  |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  |  | - |  |  | 4 |
UFV Porteirinha II Geração de Energia Elétrica Distribuída S.A. ("UFV Porteirinha II") |  |  |  | 7 |  |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  |  | - |  |  | 7 |
UFV Brasilândia Geração de Energia Elétrica Distribuída S.A. ("UFV Brasilândia") |  |  |  | 15 |  |  |  |  | 2 |  |  |  | (2 | ) |  |  | - |  |  |  |  | - |  |  | 15 |
Apolo I SPE Empreendimentos e Energia S.A. ("UFV Apolo I") |  |  |  | 7 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  | (1 | ) |  | 6 |
Apolo II SPE Empreendimentos e Energia S.A. ("UFV Apolo I") |  |  |  | - |  |  |  |  | - |  |  |  | - |  |  |  | 6 |  |  |  |  | - |  |  | 6 |
G2 Campo Lindo I Energia S.A. ("UFV Campo Lindo I") (2) |  |  |  | 8 |  |  |  |  | - |  |  |  | - |  |  |  | 10 |  |  |  |  | (18 | ) |  | - |
G2 Campo Lindo II Energia S.A. ("UFV Campo Lindo II") (2) |  |  |  | 9 |  |  |  |  | - |  |  |  | - |  |  |  | 10 |  |  |  |  | (18 | ) |  | 1 |
G2 Olaria I Energia S.A. ("UFV Olaria I") (2) |  |  |  | 8 |  |  |  |  | - |  |  |  | - |  |  |  | 10 |  |  |  |  | (18 | ) |  | - |
Total of investments |  |  |  | 5,107 |  |  |  |  | 432 |  |  |  | (496 | ) |  |  | 36 |  |  |  |  | (447 | ) |  | 4,632 |
Total |  |  |  | 5,107 |  |  |  |  | 432 |  |  |  | (496 | ) |  |  | 36 |  |  |  |  | (447 | ) |  | 4,632 |
(1) Indirect participation in Belo Monte Dam through these investees. (2) On July 20, 2023, control of these investees was acquired and they were consolidated by the Company. Therefore, the Company’s interest in these investees is reflected in the Company’s consolidated assets and liabilities. (3) On March 20, 2023, Cemig GT completed the sale of its direct and indirect ownership interest in the capital stock of Mesa to Furnas Centrais Elétricas S.A. ("Furnas"). More details will follow in the course of this explanatory note. (4) The sale of Baguari Energia was completed on October 6, 2023 and the sale of Retiro Baixo was completed on November 22, 2023. The investments writ-off is presented in the "Other" column depicted above .Further details can be found in this note. For the fiscal year ended on December 31, 2023, the Company's management evaluated whether there were indications of possible devaluation of assets, as referred to in IAS 36 - Impairments of Assets. The net book value of the investments was found to be recoverable. Additionally, in relation to the above, the Company’s management has assessed the risk threatening all its investments ability to continue as a going concern, taking substantially into consideration: the economic-financial clauses of Cemig D and Gasmig; the guarantee of revenues of the transmission companies; the protection against force majeure reduction in regulated generation contracts; and all the legal measures that have been applied by the federal government and by Aneel - and has concluded that the Company and its subsidiaries’ will continue to operate as a going concern. Changes in investments in subsidiaries, jointly controlled entities and affiliates:
Investee |  | 2021 |  |  | Gain (loss) by equity method (Income statement) |  |  | Dividends |  |  | Additions / Acquisitions |  |  | Other |  |  | 2022 |
Hidrelétrica Cachoeirão |  |  | 59 |  |  |  | 15 |  |  |  | (27 | ) |  |  | - |  |  |  | - |  |  |  | 47 |
Guanhães Energia |  |  | 125 |  |  |  | 58 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 183 |
Hidrelétrica Pipoca |  |  | 47 |  |  |  | 16 |  |  |  | (16 | ) |  |  | - |  |  |  | - |  |  |  | 47 |
MESA (3) |  |  | - |  |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 10 |
FIP Melbourne (3) (5) |  |  | - |  |  |  | 169 |  |  |  | - |  |  |  | - |  |  |  | (161 | ) |  |  | 8 |
Paracambi (formely Lightger) |  |  | 124 |  |  |  | 17 |  |  |  | (7 | ) |  |  | - |  |  |  | - |  |  |  | 134 |
Baguari Energia |  |  | 168 |  |  |  | 22 |  |  |  | (30 | ) |  |  | - |  |  |  | - |  |  |  | 160 |
Amazônia Energia (4) |  |  | 933 |  |  |  | (47 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 886 |
Aliança Norte (4) |  |  | 609 |  |  |  | (33 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 576 |
Ativas |  |  | 16 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | (15 | ) |  |  | - |
Taesa |  |  | 1,580 |  |  |  | 305 |  |  |  | (336 | ) |  |  | - |  |  |  | - |  |  |  | 1,549 |
Aliança Geração |  |  | 1,141 |  |  |  | 104 |  |  |  | (48 | ) |  |  | - |  |  |  | (3 | ) |  |  | 1,194 |
Retiro Baixo |  |  | 201 |  |  |  | 22 |  |  |  | (38 | ) |  |  | - |  |  |  | - |  |  |  | 185 |
UFV Janaúba Geração de Energia Elétrica Distribuída S.A. (‘UFV Janaúba’) |  |  | 3 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | 3 |
UFV Corinto Geração de Energia Elétrica Distribuída S.A. (‘UFV Corinto’) (2) |  |  | 9 |  |  |  | 2 |  |  |  | (2 | ) |  |  | - |  |  |  | (1 | ) |  |  | 8 |
UFV Manga Geração de Energia Elétrica Distribuída S.A. (‘UFV Manga’) (2) |  |  | 11 |  |  |  | 3 |  |  |  | (2 | ) |  |  | - |  |  |  | (1 | ) |  |  | 11 |
UFV Bonfinópolis II Geração de Energia Elétrica Distribuída S.A. (‘UFV Bonfinópolis II’) (2) |  |  | 6 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | (1 | ) |  |  | 5 |
UFV Lagoa Grande Geração de Energia Elétrica Distribuída S.A. (‘UFV Lagoa Grande’) (2) |  |  | 15 |  |  |  | 3 |  |  |  | (2 | ) |  |  | - |  |  |  | (1 | ) |  |  | 15 |
UFV Lontra Geração de Energia Elétrica Distribuída S.A. (‘UFV Lontra’) (2) |  |  | 18 |  |  |  | 4 |  |  |  | (3 | ) |  |  | - |  |  |  | (1 | ) |  |  | 18 |
UFV Mato Verde Geração de Energia Elétrica Distribuída S.A. (‘UFV Mato Verde’) (2) |  |  | 6 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | 6 |
UFV Mirabela Geração de Energia Elétrica Distribuída S.A. (‘UFV Mirabela’) (2) |  |  | 4 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | 4 |
UFV Porteirinha I Geração de Energia Elétrica Distribuída S.A. (‘UFV Porteirinha I’) (2) |  |  | 5 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | (1 | ) |  |  | 4 |
UFV Porteirinha II Geração de Energia Elétrica Distribuída S.A. (‘UFV Porteirinha II’) (2) |  |  | 7 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | 7 |
UFV Brasilândia Geração de Energia Elétrica Distribuída S.A. (‘UFV Brasilândia’) (2) |  |  | 15 |  |  |  | 3 |  |  |  | (2 | ) |  |  | - |  |  |  | (1 | ) |  |  | 15 |
Apolo I SPE Empreendimentos e Energia S.A. (‘UFV Apolo I’) |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 6 |  |  |  | - |  |  |  | 7 |
G2 Campo Lindo I Energia S.A. (‘UFV Campo Lindo I’) |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 7 |  |  |  | - |  |  |  | 8 |
G2 Campo Lindo II Energia S.A. (‘UFV Campo Lindo II’) |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | 7 |  |  |  | - |  |  |  | 9 |
G2 Olaria I Energia S.A. (‘UFV Olaria I’) |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 7 |  |  |  | - |  |  |  | 8 |
Axxiom |  |  | 4 |  |  |  | (4 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Itaocara |  |  | - |  |  |  | (3 | ) |  |  | - |  |  |  | 10 |  |  |  | (7 | ) |  |  | - |
Total investment |  |  | 5,106 |  |  |  | 676 |  |  |  | (519 | ) |  |  | 37 |  |  |  | (193 | ) |  |  | 5,107 |
Itaocara - Uncovered liability |  |  | (21 | ) |  |  | 7 |  |  |  | - |  |  |  | 14 |  |  |  | - |  |  |  | - |
MESA (3) - Loss provisions (1) |  |  | (162 | ) |  |  | 162 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | 4,923 |  |  |  | 845 |  |  |  | (519 | ) |  |  | 51 |  |  |  | (193 | ) |  |  | 5,107 |
(1) In June 2022, the provision related to the Company's contractual obligations assumed with the investee and the other shareholders was reversed. Further details are disclosed in this note. (2) On May 23, 2022, the reduction of capital stock of these UFVs was approved by means of an Extraordinary General Assembly. (3) Indirect participation in the Santo Antônio Plant through these investees. (4) Indirect participation in Belo Monte Dam through these investees. (5) On September 12, 2022, AGPar made the payment associated with the settlement arising from Arbitral Award CCBC-86/2016 to the Melbourne Fund. Thereafter, the Company recognized the receivable against income. Further details are provided throughout this note.
Investee |  | 2020 |  |  | Gain (loss) by equity method (Income statement) |  |  | Dividends |  |  | Additions / acquisitions |  |  | Losses on investments |  |  | Other |  |  | 2021 |
Hidrelétrica Cachoeirão |  |  | 53 |  |  |  | 14 |  |  |  | (8 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 59 |
Guanhães Energia |  |  | 131 |  |  |  | (6 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 125 |
Hidrelétrica Pipoca |  |  | 36 |  |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 47 |
Madeira Energia (Santo Antônio plant) |  |  | 209 |  |  |  | (209 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
FIP Melbourne (Santo Antônio plant) |  |  | 158 |  |  |  | (158 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Lightger |  |  | 131 |  |  |  | 5 |  |  |  | (12 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 124 |
Baguari Energia |  |  | 159 |  |  |  | 31 |  |  |  | (22 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 168 |
Amazônia Energia (Belo Monte plant) |  |  | 965 |  |  |  | (32 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 933 |
Aliança Norte (Belo Monte plant) |  |  | 631 |  |  |  | (22 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 609 |
Ativas Data Center |  |  | 17 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16 |
Taesa |  |  | 1,467 |  |  |  | 481 |  |  |  | (368 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,580 |
Aliança Geração |  |  | 1,167 |  |  |  | 199 |  |  |  | (225 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,141 |
Retiro Baixo |  |  | 195 |  |  |  | 13 |  |  |  | (7 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 201 |
UFV Janaúba Geração de Energia Elétrica Distribuída |  |  | 10 |  |  |  | 1 |  |  |  | (2 | ) |  |  | - |  |  |  | - |  |  |  | (6 | ) |  |  | 3 |
UFV Corinto Geração de Energia Elétrica Distribuída |  |  | 10 |  |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9 |
UFV Manga Geração de Energia Elétrica Distribuída |  |  | 11 |  |  |  | 2 |  |  |  | (2 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 11 |
UFV Bonfinópolis II Geração de Energia Elétrica Distribuída |  |  | 6 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6 |
UFV Lagoa Grande Geração de Energia Elétrica Distribuída |  |  | 15 |  |  |  | 2 |  |  |  | (2 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 15 |
UFV Lontra Geração de Energia Elétrica Distribuída |  |  | 17 |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 18 |
UFV Mato Verde Geração de Energia Elétrica Distribuída |  |  | 6 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6 |
UFV Mirabela Geração de Energia Elétrica Distribuída |  |  | 4 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4 |
UFV Porteirinha I Geração de Energia Elétrica Distribuída |  |  | 6 |  |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 5 |
UFV Porteirinha II Geração de Energia Elétrica Distribuída |  |  | 7 |  |  |  | 1 |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 7 |
UFV Brasilândia Geração de Energia Elétrica Distribuída (1) |  |  | - |  |  |  | 4 |  |  |  | (1 | ) |  |  | 12 |  |  |  | - |  |  |  | - |  |  |  | 15 |
Axxiom Soluções Tecnológicas |  |  | 4 |  |  |  | (2 | ) |  |  | — |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | 4 |
Total of investments |  |  | 5,415 |  |  |  | 337 |  |  |  | (654 | ) |  |  | 14 |  |  |  | - |  |  |  | (6 | ) |  |  | 5,106 |
Itaocara - equity deficit (2) |  |  | (30 | ) |  |  | 7 |  |  |  | - |  |  |  | 42 |  |  |  | (40 | ) |  |  | - |  |  |  | (21 | )
Madeira Energia (Santo Antônio Plant) - provisions to losses (3) |  |  | - |  |  |  | (162 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (162 | )
Total |  |  | 5,385 |  |  |  | 182 |  |  |  | (654 | ) |  |  | 56 |  |  |  | (40 | ) |  |  | (6 | ) |  |  | 4,923 |
(1) Includes the amount of R$2 of the acquisition of the jointly controlled subsidiary UFV Brasilândia. (2) On December 1, 2021, CEMIG GT injected capital into UHE Itaocara S.A., in the amount of R$40. This amount is proportional to its shareholding interest in the investee and was recognized under Other expenses in the Company’s income statement. Further, R$1 was injected to cover the expenses specified in the 2021 budget of the investee. (3) A loss was recognized for extension of the contractual obligations which the Company had assumed to the investee and the other shareholders. On December 31, 2021 this amount was R$162. Main information on the subsidiaries, jointly controlled entities and affiliates, not adjusted for the percentage represented by the Company’s ownership interest:
|  |  |  |  |  |  | 2023 |  |  |  | 2022 |  |  |  | 2021 |
Investee |  |  | Numbers of shares |  |  |  | Cemig interest (%) |  |  | Share capital |  |  | Equity |  |  |  | Cemig interest (%) |  | Share capital |  | Equity |  |  |  | Cemig interest (%) |  | Share capital |  | Equity |
Cemig Geração e Transmissão |  |  |  | 2,896,785,358 |  |  |  |  | 100.00 |  |  |  | 5,474 |  |  |  | 10,703 |  |  |  |  | 100.00 |  |  | 5,474 |  |  | 8,893 |  |  |  |  | 100.00 |  |  | 4,124 |  |  | 7,755 |
Mesa |  |  |  | 24,796,536,323 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  | 7.53 |  |  | 12,202 |  |  | 229 |  |  |  |  | 15.51 |  |  | 10,620 |  |  | 1,492 |
Hidrelétrica Cachoeirão |  |  |  | 35,000,000 |  |  |  |  | 49.00 |  |  |  | 35 |  |  |  | 96 |  |  |  |  | 49.00 |  |  | 35 |  |  | 96 |  |  |  |  | 49.00 |  |  | 35 |  |  | 120 |
Guanhães Energia |  |  |  | 548,626,000 |  |  |  |  | 49.00 |  |  |  | 549 |  |  |  | 419 |  |  |  |  | 49.00 |  |  | 549 |  |  | 373 |  |  |  |  | 49.00 |  |  | 549 |  |  | 255 |
Hidrelétrica Pipoca |  |  |  | 41,360,000 |  |  |  |  | 49.00 |  |  |  | 41 |  |  |  | 97 |  |  |  |  | 49.00 |  |  | 41 |  |  | 95 |  |  |  |  | 49.00 |  |  | 41 |  |  | 95 |
Baguari Energia |  |  |  | 26,157,300,278 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  | 69.39 |  |  | 187 |  |  | 231 |  |  |  |  | 69.39 |  |  | 187 |  |  | 243 |
Parajuru |  |  |  | 35,000,000 |  |  |  |  | 100.00 |  |  |  | 35 |  |  |  | 92 |  |  |  |  | 100.00 |  |  | 86 |  |  | 158 |  |  |  |  | 100.00 |  |  | 86 |  |  | 128 |
Volta do Rio |  |  |  | 180,000,000 |  |  |  |  | 100.00 |  |  |  | 180 |  |  |  | 208 |  |  |  |  | 100.00 |  |  | 275 |  |  | 248 |  |  |  |  | 100.00 |  |  | 275 |  |  | 207 |
Paracambi (antiga Lightger) |  |  |  | 79,078,937 |  |  |  |  | 49.00 |  |  |  | 57 |  |  |  | 83 |  |  |  |  | 49.00 |  |  | 79 |  |  | 123 |  |  |  |  | 49.00 |  |  | 79 |  |  | 98 |
Aliança Norte |  |  |  | 41,949,320,044 |  |  |  |  | 49.00 |  |  |  | 1,210 |  |  |  | 1,007 |  |  |  |  | 49.00 |  |  | 1,210 |  |  | 1,084 |  |  |  |  | 49.00 |  |  | 1,209 |  |  | 1,148 |
Amazônia Energia (1) |  |  |  | 1,322,897,723 |  |  |  |  | 74.50 |  |  |  | 1,323 |  |  |  | 1,099 |  |  |  |  | 74.50 |  |  | 1,323 |  |  | 1,189 |  |  |  |  | 74.50 |  |  | 1,323 |  |  | 1,252 |
Aliança Geração |  |  |  | 1,291,582,500 |  |  |  |  | 45.00 |  |  |  | 1,291 |  |  |  | 2,046 |  |  |  |  | 45.00 |  |  | 1,291 |  |  | 2,039 |  |  |  |  | 45.00 |  |  | 1,291 |  |  | 1,858 |
Retiro Baixo |  |  |  | 225,350,000 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  | 49.90 |  |  | 225 |  |  | 319 |  |  |  |  | 49.90 |  |  | 225 |  |  | 346 |
Itaocara |  |  |  | 156,259,500 |  |  |  |  | 49.00 |  |  |  | 207 |  |  |  | 15 |  |  |  |  | 49.00 |  |  | 207 |  |  | 15 |  |  |  |  | 49.00 |  |  | 156 |  |  | (42 | )
Cemig Baguari |  |  |  | 406,000 |  |  |  |  | 100.00 |  |  |  | - |  |  |  | - |  |  |  |  | 100.00 |  |  | - |  |  | - |  |  |  |  | 100.00 |  |  | - |  |  | - |
CEMIG Geração Três Marias |  |  |  | 1,291,423,369 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  | 100.00 |  |  | 1,291 |  |  | 1,728 |  |  |  |  | 100.00 |  |  | 1,291 |  |  | 1,652 |
CEMIG Geração Salto Grande |  |  |  | 405,267,607 |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  | 100.00 |  |  | 405 |  |  | 562 |  |  |  |  | 100.00 |  |  | 405 |  |  | 527 |
Cemig Geração Itutinga |  |  |  | 151,309,332 |  |  |  |  | 100.00 |  |  |  | 151 |  |  |  | 228 |  |  |  |  | 100.00 |  |  | 151 |  |  | 231 |  |  |  |  | 100.00 |  |  | 151 |  |  | 212 |
Cemig Geração Camargos |  |  |  | 113,499,102 |  |  |  |  | 100.00 |  |  |  | 113 |  |  |  | 168 |  |  |  |  | 100.00 |  |  | 113 |  |  | 183 |  |  |  |  | 100.00 |  |  | 113 |  |  | 165 |
Cemig Geração Sul |  |  |  | 148,146,505 |  |  |  |  | 100.00 |  |  |  | 148 |  |  |  | 255 |  |  |  |  | 100.00 |  |  | 148 |  |  | 252 |  |  |  |  | 100.00 |  |  | 148 |  |  | 215 |
Cemig Geração Leste |  |  |  | 100,568,929 |  |  |  |  | 100.00 |  |  |  | 101 |  |  |  | 158 |  |  |  |  | 100.00 |  |  | 101 |  |  | 168 |  |  |  |  | 100.00 |  |  | 101 |  |  | 148 |
Cemig Geração Oeste |  |  |  | 60,595,484 |  |  |  |  | 100.00 |  |  |  | 61 |  |  |  | 145 |  |  |  |  | 100.00 |  |  | 61 |  |  | 126 |  |  |  |  | 100.00 |  |  | 61 |  |  | 106 |
Rosal Energia |  |  |  | 46,944,467 |  |  |  |  | 100.00 |  |  |  | 47 |  |  |  | 112 |  |  |  |  | 100.00 |  |  | 47 |  |  | 123 |  |  |  |  | 100.00 |  |  | 47 |  |  | 115 |
Sá Carvalho |  |  |  | 361,200,000 |  |  |  |  | 100.00 |  |  |  | 37 |  |  |  | 92 |  |  |  |  | 100.00 |  |  | 37 |  |  | 138 |  |  |  |  | 100.00 |  |  | 37 |  |  | 134 |
Horizontes Energia |  |  |  | 10,000,000 |  |  |  |  | 100.00 |  |  |  | 10 |  |  |  | 32 |  |  |  |  | 100.00 |  |  | 39 |  |  | 61 |  |  |  |  | 100.00 |  |  | 39 |  |  | 60 |
Cemig PCH |  |  |  | 6,000,000 |  |  |  |  | 100.00 |  |  |  | 6 |  |  |  | 51 |  |  |  |  | 100.00 |  |  | 46 |  |  | 99 |  |  |  |  | 100.00 |  |  | 46 |  |  | 90 |
Cemig Geração Poço Fundo |  |  |  | 139,084,745 |  |  |  |  | 100.00 |  |  |  | 139 |  |  |  | 168 |  |  |  |  | 100.00 |  |  | 139 |  |  | 172 |  |  |  |  | 100.00 |  |  | 97 |  |  | 114 |
Empresa de Serviços de Comercialização de Energia Elétrica S.A. |  |  |  | 486,000 |  |  |  |  | 100.00 |  |  |  | - |  |  |  | 29 |  |  |  |  | 100.00 |  |  | - |  |  | 11 |  |  |  |  | 100.00 |  | - |  |  | 8 |
Cemig Trading |  |  |  | 1,000,000 |  |  |  |  | 100.00 |  |  |  | 1 |  |  |  | 9 |  |  |  |  | 100.00 |  |  | 1 |  |  | 6 |  |  |  |  | 100.00 |  |  | 1 |  |  | 2 |
Centroeste |  |  |  | 28,000,000 |  |  |  |  | 100.00 |  |  |  | 28 |  |  |  | 113 |  |  |  |  | 100.00 |  |  | 28 |  |  | 120 |  |  |  |  | 100.00 |  |  | 28 |  |  | - |
UFV Três Marias |  |  |  | 6,887,499 |  |  |  |  | 100.00 |  |  |  | 7 |  |  |  | 46 |  |  |  |  | 100.00 |  | - |  | - |  |  |  |  | - |  |  | - |  |  | - |
Cemig Distribuição |  |  |  | 2,359,113,452 |  |  |  |  | 100.00 |  |  |  | 6,284 |  |  |  | 9,121 |  |  |  |  | 100.00 |  |  | 5,372 |  |  | 7,105 |  |  |  |  | 100.00 |  |  | 5,372 |  |  | 6,943 |
Taesa |  |  |  | 1,033,496,721 |  |  |  |  | 21.68 |  |  |  | 3,042 |  |  |  | 6,679 |  |  |  |  | 21.68 |  |  | 3,042 |  |  | 6,570 |  |  |  |  | 21.68 |  |  | 3,042 |  |  | 6,685 |
Gasmig |  |  |  | 409,255,483 |  |  |  |  | 99.57 |  |  |  | 665 |  |  |  | 1,386 |  |  |  |  | 99.57 |  |  | 665 |  |  | 1,373 |  |  |  |  | 99.57 |  |  | 665 |  |  | 1,222 |
Cemig Sim |  |  |  | 306,664,742 |  |  |  |  | 100.00 |  |  |  | 307 |  |  |  | 419 |  |  |  |  | 100.00 |  |  | 175 |  |  | 199 |  |  |  |  | 100.00 |  |  | 285 |  |  | 297 |
Sete Lagoas |  |  |  | 36,857,080 |  |  |  |  | 100.00 |  |  |  | 37 |  |  |  | 80 |  |  |  |  | 100.00 |  |  | 37 |  |  | 73 |  |  |  |  | 100.00 |  |  | 37 |  |  | 65 |
(1) Indirect participation in Belo Monte Plant through this investee. The main balances for the affiliated and jointly controlled entities on December 31, 2023
2023 |  | Taesa |  |  | Paracambi (formely Lightger) |  |  | Hidrelétrica Cachoeirão |  |  | Hidrelétrica Pipoca |  |  | Aliança Norte (1) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 2,745 |  |  |  | 24 |  |  |  | 11 |  |  |  | 11 |  |  |  | - |
Cash and cash equivalents |  |  | 1,144 |  |  |  | 17 |  |  |  | 7 |  |  |  | 6 |  |  |  | - |
Non-current |  |  | 14,833 |  |  |  | 100 |  |  |  | 86 |  |  |  | 95 |  |  |  | 1,015 |
Total assets |  |  | 17,578 |  |  |  | 124 |  |  |  | 97 |  |  |  | 106 |  |  |  | 1,015 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 1,617 |  |  |  | 11 |  |  |  | 7 |  |  |  | 8 |  |  |  | - |
Loans |  |  | - |  |  |  | 9 |  |  |  | - |  |  |  | 7 |  |  |  | - |
Non-current |  |  | 9,282 |  |  |  | 30 |  |  |  | - |  |  |  | 1 |  |  |  | 8 |
Loans |  |  | 368 |  |  |  | 30 |  |  |  | - |  |  |  | 1 |  |  |  | - |
Equity |  |  | 6,679 |  |  |  | 83 |  |  |  | 90 |  |  |  | 97 |  |  |  | 1,007 |
Total liabilities and equity |  |  | 17,578 |  |  |  | 124 |  |  |  | 97 |  |  |  | 106 |  |  |  | 1,015 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 1,345 |  |  |  | 60 |  |  |  | 38 |  |  |  | 46 |  |  |  | - |
Cost of sales |  |  | (196 | ) |  |  | (16 | ) |  |  | (15 | ) |  |  | (12 | ) |  |  | - |
Depreciation and amortization |  |  | (6 | ) |  |  | (12 | ) |  |  | (4 | ) |  |  | (4 | ) |  |  | - |
Gross income (loss) |  |  | 1,149 |  |  |  | 44 |  |  |  | 23 |  |  |  | 34 |  |  |  | - |
General and administrative expenses |  |  | (179 | ) |  |  | (2 | ) |  |  | - |  |  |  | (1 | ) |  |  | (77 | )
Finance income |  |  | 370 |  |  |  | 7 |  |  |  | 3 |  |  |  | 3 |  |  |  | - |
Finance expenses |  |  | (1,623 | ) |  |  | (4 | ) |  |  | - |  |  |  | (1 | ) |  |  | - |
Operational income (loss) |  |  | (283 | ) |  |  | 45 |  |  |  | 26 |  |  |  | 35 |  |  |  | (77 | )
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | 1,181 |  |  |  | — |  |  |  | — |  |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | 470 |  |  |  | (4 | ) |  |  | (2 | ) |  |  | (3 | ) |  |  | - |
Net income (loss) for the year |  |  | 1,368 |  |  |  | 41 |  |  |  | 24 |  |  |  | 32 |  |  |  | (77 | )
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | 1,368 |  |  |  | 41 |  |  |  | 24 |  |  |  | 32 |  |  |  | (77 | )
Comprehensive income (loss) for the year |  |  | 1,368 |  |  |  | 41 |  |  |  | 24 |  |  |  | 32 |  |  |  | (77 | )
(1) At the year ended December 31, 2023, Company has assessed all relevant aspects related to going concern and no triggers of impairment were found. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | Guanhães Energia |  |  | Amazônia Energia |  |  | Aliança Geração |  |  | Usina Hidrelétrica Itaocara S.A. |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 1,534 |  |  |  | - |  |  |  | 583 |  |  |  | 3 |
Cash and cash equivalents |  |  | 112 |  |  |  | - |  |  |  | 348 |  |  |  | 3 |
Non-current |  |  | 4,735 |  |  |  | 1,108 |  |  |  | 3,701 |  |  |  | 12 |
Total assets |  |  | 6,269 |  |  |  | 1,108 |  |  |  | 4,284 |  |  |  | 15 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 143 |  |  |  | 8 |  |  |  | 829 |  |  |  | - |
Loans |  |  | 69 |  |  |  | - |  |  |  | 180 |  |  |  | - |
Non-current |  |  | 1,151 |  |  |  | - |  |  |  | 1,767 |  |  |  | - |
Loans |  |  | 941 |  |  |  | - |  |  |  | 993 |  |  |  | - |
Equity |  |  | 4,975 |  |  |  | 1,100 |  |  |  | 1,688 |  |  |  | 15 |
Total liabilities and equity |  |  | 6,269 |  |  |  | 1,108 |  |  |  | 4,284 |  |  |  | 15 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 60 |  |  |  | - |  |  |  | 1,149 |  |  |  | - |
Cost of sales |  |  | (39 | ) |  |  | - |  |  |  | (472 | ) |  |  | (1 | )
Depreciation and amortization |  |  | (21 | ) |  |  | - |  |  |  | (131 | ) |  |  | - |
Gross income (loss) |  |  | 21 |  |  |  | - |  |  |  | 677 |  |  |  | (1 | )
General and administrative expenses |  |  | - |  |  |  | - |  |  |  | (51 | ) |  |  | - |
Finance income |  |  | 15 |  |  |  | - |  |  |  | 50 |  |  |  | - |
Finance expenses |  |  | (10 | ) |  |  | - |  |  |  | (171 | ) |  |  | - |
Operational income (loss) |  |  | 26 |  |  |  | - |  |  |  | 505 |  |  |  | (1 | )
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | - |  |  |  | (83 | ) |  |  | 23 |  |  |  | - |
Income tax and social contribution tax |  |  | (7 | ) |  |  |  |  |  | (170 | ) |  |  | - |
Net income (loss) for the year |  |  | 19 |  |  |  | (83 | ) |  |  | 358 |  |  |  | (1 | )
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | 19 |  |  |  | (83 | ) |  |  | 358 |  |  |  | (1 | )
Comprehensive income (loss) for the year |  |  | 19 |  |  |  | (83 | ) |  |  | 358 |  |  |  | (1 | )
The main balances for the affiliated and jointly controlled entities on December 31, 2022
2022 |  | Taesa |  |  | Paracambi (formely Lightger) |  |  | Hidrelétrica Cachoeirão |  |  | Hidrelétrica Pipoca |  |  | Retiro Baixo |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 2,261 |  |  |  | 63 |  |  |  | 15 |  |  |  | 20 |  |  |  | 63 |
Cash and cash equivalents |  |  | 760 |  |  |  | 60 |  |  |  | 11 |  |  |  | 14 |  |  |  | 49 |
Non-current |  |  | 13,198 |  |  |  | 109 |  |  |  | 91 |  |  |  | 98 |  |  |  | 338 |
Total assets |  |  | 15,459 |  |  |  | 172 |  |  |  | 106 |  |  |  | 118 |  |  |  | 401 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 817 |  |  |  | 11 |  |  |  | 1 |  |  |  | 8 |  |  |  | 25 |
Loans |  |  | 1,957 |  |  |  | 9 |  |  |  | - |  |  |  | 7 |  |  |  | 14 |
Non-current |  |  | 8,045 |  |  |  | 38 |  |  |  | 1 |  |  |  | 7 |  |  |  | 45 |
Loans |  |  | 372 |  |  |  | 38 |  |  |  | - |  |  |  | 7 |  |  |  | 28 |
Equity |  |  | 6,597 |  |  |  | 123 |  |  |  | 104 |  |  |  | 103 |  |  |  | 331 |
Total liabilities and equity |  |  | 15,459 |  |  |  | 172 |  |  |  | 106 |  |  |  | 118 |  |  |  | 401 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 1,621 |  |  |  | 62 |  |  |  | 43 |  |  |  | 45 |  |  |  | 77 |
Cost of sales |  |  | (176 | ) |  |  | (17 | ) |  |  | (12 | ) |  |  | (10 | ) |  |  | (4 | )
Depreciation and amortization |  |  | (9 | ) |  |  | (12 | ) |  |  | (3 | ) |  |  | - |  |  |  | (9 | )
Gross income (loss) |  |  | 1,445 |  |  |  | 45 |  |  |  | 31 |  |  |  | 35 |  |  |  | 73 |
General and administrative expenses |  |  | (197 | ) |  |  | (2 | ) |  |  | - |  |  |  | (1 | ) |  |  | (3 | )
Finance income |  |  | 652 |  |  |  | 6 |  |  |  | 4 |  |  |  | 3 |  |  |  | 10 |
Finance expenses |  |  | (1,700 | ) |  |  | (4 | ) |  |  | - |  |  |  | (1 | ) |  |  | (5 | )
Operational income (loss) |  |  | 200 |  |  |  | 45 |  |  |  | 35 |  |  |  | 36 |  |  |  | 75 |
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | 925 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | 324 |  |  |  | (4 | ) |  |  | (3 | ) |  |  | (3 | ) |  |  | (26 | )
Net income (loss) for the year |  |  | 1,449 |  |  |  | 41 |  |  |  | 32 |  |  |  | 33 |  |  |  | 49 |
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | 1,449 |  |  |  | 41 |  |  |  | 32 |  |  |  | 33 |  |  |  | 49 |
Comprehensive income (loss) for the year |  |  | 1,449 |  |  |  | 41 |  |  |  | 32 |  |  |  | 33 |  |  |  | 49 |
2022 |  | Aliança Norte |  |  | Guanhães Energia |  |  | Amazônia Energia |  |  | Madeira Energia |  |  | Baguari Energia |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | - |  |  |  | 132 |  |  |  | - |  |  |  | 1,819 |  |  |  | 83 |
Cash and cash equivalents |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | 924 |  |  |  | 10 |
Non-current |  |  | 1,092 |  |  |  | 376 |  |  |  | 1,191 |  |  |  | 20,953 |  |  |  | 205 |
Total assets |  |  | 1,092 |  |  |  | 508 |  |  |  | 1,191 |  |  |  | 22,772 |  |  |  | 288 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | - |  |  |  | 38 |  |  |  | 2 |  |  |  | 2,571 |  |  |  | 25 |
Loans |  |  | - |  |  |  | 12 |  |  |  | - |  |  |  | 655 |  |  |  | - |
Non-current |  |  | 8 |  |  |  | 97 |  |  |  | - |  |  |  | 19,972 |  |  |  | 24 |
Loans |  |  | - |  |  |  | 80 |  |  |  | - |  |  |  | 13,546 |  |  |  | - |
Equity |  |  | 1,084 |  |  |  | 373 |  |  |  | 1,189 |  |  |  | 229 |  |  |  | 239 |
Total liabilities and equity |  |  | 1,092 |  |  |  | 508 |  |  |  | 1,191 |  |  |  | 22,772 |  |  |  | 288 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | - |  |  |  | 57 |  |  |  | - |  |  |  | 4,137 |  |  |  | 81 |
Cost of sales |  |  | - |  |  |  | (45 | ) |  |  | - |  |  |  | (3,451 | ) |  |  | (31 | )
Depreciation and amortization |  |  | - |  |  |  | (16 | ) |  |  | - |  |  |  | - |  |  |  | (10 | )
Gross income (loss) |  |  | - |  |  |  | 12 |  |  |  | - |  |  |  | 686 |  |  |  | 50 |
General and administrative expenses |  |  | (65 | ) |  |  | - |  |  |  | - |  |  |  | (150 | ) |  |  | - |
Finance income |  |  | - |  |  |  | 90 |  |  |  | - |  |  |  | 361 |  |  |  | 10 |
Finance expenses |  |  | - |  |  |  | (11 | ) |  |  | - |  |  |  | (3,521 | ) |  |  | - |
Operational income (loss) |  |  | (65 | ) |  |  | 91 |  |  |  | - |  |  |  | (2,624 | ) |  |  | 60 |
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | - |  |  |  | - |  |  |  | (63 | ) |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | - |  |  |  | (32 | ) |  |  | - |  |  |  | (222 | ) |  |  | (20 | )
Net income (loss) for the year |  |  | (65 | ) |  |  | 59 |  |  |  | (63 | ) |  |  | (2,846 | ) |  |  | 40 |
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | (65 | ) |  |  | 59 |  |  |  | (63 | ) |  |  | (2,846 | ) |  |  | 40 |
Comprehensive income (loss) for the year |  |  | (65 | ) |  |  | 59 |  |  |  | (63 | ) |  |  | (2,846 | ) |  |  | 40 |
2022 |  | Aliança Geração |  |  | Usina Hidrelétrica Itaocara S.A. |  |  | UFV Janaúba |  |  | UFV Corinto |  |  | UFV Manga |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 724 |  |  |  | 4 |  |  |  | 4 |  |  |  | 2 |  |  |  | 2 |
Cash and cash equivalents |  |  | 449 |  |  |  | 4 |  |  |  | 3 |  |  |  | 1 |  |  |  | 1 |
Non-current |  |  | 3,468 |  |  |  | 11 |  |  |  | 17 |  |  |  | 17 |  |  |  | 20 |
Total assets |  |  | 4,192 |  |  |  | 15 |  |  |  | 21 |  |  |  | 19 |  |  |  | 22 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 383 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | - |
Loans |  |  | 136 |  |  |  | - |  |  |  | 2 |  |  |  | - |  |  |  | - |
Non-current |  |  | 1,489 |  |  |  | - |  |  |  | 12 |  |  |  | 1 |  |  |  | 1 |
Loans |  |  | 713 |  |  |  | - |  |  |  | 11 |  |  |  | - |  |  |  | - |
Equity |  |  | 2,320 |  |  |  | 15 |  |  |  | 7 |  |  |  | 18 |  |  |  | 21 |
Total liabilities and equity |  |  | 4,192 |  |  |  | 15 |  |  |  | 21 |  |  |  | 19 |  |  |  | 22 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 1,109 |  |  |  | - |  |  |  | - |  |  |  | 6 |  |  |  | 7 |
Cost of sales |  |  | (608 | ) |  |  | - |  |  |  | 5 |  |  |  | (1 | ) |  |  | (1 | )
Depreciation and amortization |  |  | (124 | ) |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |
Gross income (loss) |  |  | 501 |  |  |  | - |  |  |  | 5 |  |  |  | 5 |  |  |  | 6 |
General and administrative expenses |  |  | (43 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Finance income |  |  | 61 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Finance expenses |  |  | (109 | ) |  |  | (7 | ) |  |  | (1 | ) |  |  | - |  |  |  | - |
Operational income (loss) |  |  | 410 |  |  |  | (7 | ) |  |  | 4 |  |  |  | 5 |  |  |  | 6 |
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | (139 | ) |  |  | - |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Net income (loss) for the year |  |  | 282 |  |  |  | (7 | ) |  |  | 3 |  |  |  | 4 |  |  |  | 5 |
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | 282 |  |  |  | (7 | ) |  |  | 3 |  |  |  | 4 |  |  |  | 5 |
Comprehensive income (loss) for the year |  |  | 282 |  |  |  | (7 | ) |  |  | 3 |  |  |  | 4 |  |  |  | 5 |
2022 |  | UFV Bonfinópolis II |  |  | UFV Lagoa Grande |  |  | UFV Lontra |  |  | UFV Olaria 1 |  |  | UFV Mato Verde |  |  | UFV Mirabela |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 2 |  |  |  | 3 |  |  |  | 4 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Cash and cash equivalents |  |  | 1 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |  |  |  | 1 |  |  |  | — |
Non-current |  |  | 12 |  |  |  | 23 |  |  |  | 27 |  |  |  | 13 |  |  |  | 11 |  |  |  | 9 |
Total assets |  |  | 14 |  |  |  | 26 |  |  |  | 31 |  |  |  | 14 |  |  |  | 12 |  |  |  | 10 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |
Loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Non-current |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | - |  |  |  | - |
Loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |
Equity |  |  | 13 |  |  |  | 25 |  |  |  | 29 |  |  |  | 13 |  |  |  | 12 |  |  |  | 10 |
Total liabilities and equity |  |  | 14 |  |  |  | 26 |  |  |  | 31 |  |  |  | 14 |  |  |  | 12 |  |  |  | 10 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | - |  |  |  | 8 |  |  |  | 10 |  |  |  | 2 |  |  |  | 4 |  |  |  | 3 |
Cost of sales |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Depreciation and amortization |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |
Gross income (loss) |  |  | (1 | ) |  |  | 7 |  |  |  | 9 |  |  |  | 1 |  |  |  | 3 |  |  |  | 2 |
General and administrative expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Finance income |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Finance expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operational income (loss) |  |  | - |  |  |  | 7 |  |  |  | 9 |  |  |  | 1 |  |  |  | 3 |  |  |  | 2 |
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | 3 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |
Net income (loss) for the year |  |  | 3 |  |  |  | 6 |  |  |  | 8 |  |  |  | 1 |  |  |  | 3 |  |  |  | 2 |
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | 3 |  |  |  | 6 |  |  |  | 8 |  |  |  | 1 |  |  |  | 3 |  |  |  | 2 |
Comprehensive income (loss) for the year |  |  | 3 |  |  |  | 6 |  |  |  | 8 |  |  |  | 1 |  |  |  | 3 |  |  |  | 2 |
2022 |  | UFV Porteirinha I |  |  | UFV Porteirinha II |  |  | UFV Brasilândia |  |  | UFV Apolo 1 |  |  | UFV Campo Lindo 1 |  |  | UFV Campo Lindo 2 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 1 |  |  |  | 2 |  |  |  | 3 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Cash and cash equivalents |  |  | - |  |  |  | 1 |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | 1 |
Non-current |  |  | 11 |  |  |  | 11 |  |  |  | 28 |  |  |  | 8 |  |  |  | 13 |  |  |  | 13 |
Total assets |  |  | 12 |  |  |  | 13 |  |  |  | 31 |  |  |  | 9 |  |  |  | 14 |  |  |  | 14 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | - |
Loans |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Non-current |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | - |  |  |  | 1 |  |  |  | 1 |
Loans |  |  | 1 |  |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | 1 |  |  |  | 1 |
Equity |  |  | 11 |  |  |  | 12 |  |  |  | 26 |  |  |  | 9 |  |  |  | 13 |  |  |  | 13 |
Total liabilities and equity |  |  | 12 |  |  |  | 13 |  |  |  | 31 |  |  |  | 9 |  |  |  | 14 |  |  |  | 14 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 4 |  |  |  | 4 |  |  |  | 8 |  |  |  | 2 |  |  |  | 3 |  |  |  | 2 |
Cost of sales |  |  | (1 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Depreciation and amortization |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | ) |  |  | (1 | )
Gross income (loss) |  |  | 3 |  |  |  | 3 |  |  |  | 6 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
General and administrative expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Finance income |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |
Finance expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operational income (loss) |  |  | 3 |  |  |  | 3 |  |  |  | 7 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | - |  |  |  | - |  |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |
Net income (loss) for the year |  |  | 3 |  |  |  | 3 |  |  |  | 6 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | 3 |  |  |  | 3 |  |  |  | 6 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
Comprehensive income (loss) for the year |  |  | 3 |  |  |  | 3 |  |  |  | 6 |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
The main balances for the affiliated and jointly controlled entities on December 31, 2021
2021 |  | Hidrelétrica Itaocara S.A. |  |  | Ativas Data Center |  |  | Taesa |  |  | Axxiom Soluções Tecnológicas |  |  | Lightger |  |  | Hidrelétrica Cachoeirão |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 5 |  |  |  | 42 |  |  |  | 2,135 |  |  |  | 13 |  |  |  | 35 |  |  |  | 29 |
Cash and cash equivalents |  |  | 5 |  |  |  | 16 |  |  |  | 385 |  |  |  | 4 |  |  |  | 29 |  |  |  | 25 |
Non-current |  |  | 11 |  |  |  | 96 |  |  |  | 13,761 |  |  |  | 19 |  |  |  | 120 |  |  |  | 93 |
Total assets |  |  | 16 |  |  |  | 138 |  |  |  | 15,896 |  |  |  | 32 |  |  |  | 155 |  |  |  | 122 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 58 |  |  |  | 39 |  |  |  | 1,417 |  |  |  | 21 |  |  |  | 11 |  |  |  | 1 |
Loans |  |  | - |  |  |  | 24 |  |  |  | 16 |  |  |  | 7 |  |  |  | 9 |  |  |  | - |
Non-current |  |  | - |  |  |  | 19 |  |  |  | 7,794 |  |  |  | 2 |  |  |  | 46 |  |  |  | 1 |
Loans |  |  | - |  |  |  | 14 |  |  |  | 614 |  |  |  | - |  |  |  | 46 |  |  |  | - |
Equity |  |  | (42 | ) |  |  | 80 |  |  |  | 6,685 |  |  |  | 9 |  |  |  | 98 |  |  |  | 120 |
Total liabilities and equity |  |  | 16 |  |  |  | 138 |  |  |  | 15,896 |  |  |  | 32 |  |  |  | 155 |  |  |  | 122 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | - |  |  |  | 90 |  |  |  | 3,472 |  |  |  | 28 |  |  |  | 54 |  |  |  | 37 |
Cost of sales |  |  | (36 | ) |  |  | (85 | ) |  |  | (649 | ) |  |  | (28 | ) |  |  | (26 | ) |  |  | (8 | )
Depreciation and amortization |  |  | - |  |  |  | (10 | ) |  |  | (9 | ) |  |  | (1 | ) |  |  | (11 | ) |  |  | (3 | )
Gross income (loss) |  |  | (36 | ) |  |  | 5 |  |  |  | 2,823 |  |  |  | - |  |  |  | 28 |  |  |  | 29 |
General and administrative expenses |  |  | - |  |  |  | (7 | ) |  |  | (169 | ) |  |  | (4 | ) |  |  | (1 | ) |  |  | - |
Finance income |  |  | - |  |  |  | - |  |  |  | 34 |  |  |  | - |  |  |  | 2 |  |  |  | 2 |
Finance expenses |  |  | (30 | ) |  |  | (3 | ) |  |  | (844 | ) |  |  | (1 | ) |  |  | (11 | ) |  |  | - |
Operational income (loss) |  |  | (66 | ) |  |  | (5 | ) |  |  | 1,844 |  |  |  | (5 | ) |  |  | 18 |  |  |  | 31 |
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | - |  |  |  | - |  |  |  | 781 |  |  |  | - |  |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | - |  |  |  | - |  |  |  | (411 | ) |  |  | - |  |  |  | (3 | ) |  |  | (2 | )
Net income (loss) for the year |  |  | (66 | ) |  |  | (5 | ) |  |  | 2,214 |  |  |  | (5 | ) |  |  | 15 |  |  |  | 29 |
Comprehensive income (loss) for the year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) for the year |  |  | (66 | ) |  |  | (5 | ) |  |  | (2.214 | ) |  |  | (5 | ) |  |  | 15 |  |  |  | 29 |
Equity valuation adjustments |  |  | — |  |  |  | — |  |  |  | 37 |  |  |  | — |  |  |  | — |  |  |  | — |
Comprehensive income (loss) for the year |  |  | (66 | ) |  |  | (5 | ) |  |  | 2,251 |  |  |  | (5 | ) |  |  | 15 |  |  |  | 29 |
2021 |  | Hidrelétrica Pipoca |  |  | Retiro Baixo |  |  | Aliança Norte |  |  | Guanhães Energia |  |  | Amazônia Energia |  |  | Madeira Energia (1) |  |  | Baguari Energia |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 18 |  |  |  | 111 |  |  |  | - |  |  |  | 15 |  |  |  | - |  |  |  | 928 |  |  |  | 72 |
Cash and cash equivalents |  |  | 12 |  |  |  | 99 |  |  |  | - |  |  |  | 5 |  |  |  | - |  |  |  | 180 |  |  |  | 3 |
Non-current |  |  | 101 |  |  |  | 322 |  |  |  | 1,150 |  |  |  | 392 |  |  |  | 1,254 |  |  |  | 23,286 |  |  |  | 218 |
Total assets |  |  | 119 |  |  |  | 433 |  |  |  | 1,150 |  |  |  | 407 |  |  |  | 1,254 |  |  |  | 24,214 |  |  |  | 290 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 10 |  |  |  | 38 |  |  |  | - |  |  |  | 41 |  |  |  | 2 |  |  |  | 2,309 |  |  |  | 21 |
Loans |  |  | 7 |  |  |  | 14 |  |  |  | - |  |  |  | 12 |  |  |  | - |  |  |  | 116 |  |  |  | - |
Non-current |  |  | 14 |  |  |  | 49 |  |  |  | 2 |  |  |  | 111 |  |  |  | - |  |  |  | 20,413 |  |  |  | 26 |
Loans |  |  | 13 |  |  |  | 41 |  |  |  | - |  |  |  | 93 |  |  |  | - |  |  |  | 12,828 |  |  |  | - |
Equity |  |  | 95 |  |  |  | 346 |  |  |  | 1,148 |  |  |  | 255 |  |  |  | 1,252 |  |  |  | 1,492 |  |  |  | 243 |
Total liabilities and equity |  |  | 119 |  |  |  | 433 |  |  |  | 1,150 |  |  |  | 407 |  |  |  | 1,254 |  |  |  | 24,214 |  |  |  | 290 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 39 |  |  |  | 70 |  |  |  | - |  |  |  | 52 |  |  |  | - |  |  |  | 3,758 |  |  |  | 77 |
Cost of sales |  |  | (11 | ) |  |  | (25 | ) |  |  | - |  |  |  | (55 | ) |  |  | (2 | ) |  |  | (2,292 | ) |  |  | (9 | )
Depreciation and amortization |  |  | (3 | ) |  |  | (9 | ) |  |  | - |  |  |  | (18 | ) |  |  | - |  |  |  | (870 | ) |  |  | (11 | )
Gross income (loss) |  |  | 28 |  |  |  | 45 |  |  |  | - |  |  |  | (3 | ) |  |  | (2 | ) |  |  | 1,466 |  |  |  | 68 |
General and administrative expenses |  |  | (2 | ) |  |  | (3 | ) |  |  | (2 | ) |  |  | - |  |  |  | - |  |  |  | (80 | ) |  |  | - |
Finance income |  |  | - |  |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 265 |  |  |  | 4 |
Finance expenses |  |  | (2 | ) |  |  | (5 | ) |  |  | - |  |  |  | (8 | ) |  |  | - |  |  |  | (3,476 | ) |  |  | (4 | )
Operational income (loss) |  |  | 24 |  |  |  | 41 |  |  |  | (2 | ) |  |  | (11 | ) |  |  | (2 | ) |  |  | (1,825 | ) |  |  | 68 |
Share of (loss) income, net, of subsidiaries and joint ventures |  |  | - |  |  |  | - |  |  |  | (39 | ) |  |  | - |  |  |  | (42 | ) |  |  | - |  |  |  | - |
Income tax and social contribution tax |  |  | (1 | ) |  |  | (13 | ) |  |  | — |  |  |  | (2 | ) |  |  | - |  |  |  | 1,812 |  |  |  | (23 | )
Net income (loss) for the year |  |  | 23 |  |  |  | 28 |  |  |  | (41 | ) |  |  | (13 | ) |  |  | (44 | ) |  |  | (13 | ) |  |  | 45 |
Comprehensive income (loss) for the year |  |  | 23 |  |  |  | 28 |  |  |  | (41 | ) |  |  | (13 | ) |  |  | (44 | ) |  |  | (79 | ) |  |  | 45 |
(1) The amount of Shareholders’ equity originally disclosed by the investee was adjusted by the Company for the purposes of posting equity income (change in the value of equity in non-consolidated investees), to take into account the modifying subsequent events resulting from the judgments given in the arbitration proceedings to which Saesa is a party. There is more information below in this Note.
2021 |  | Aliança Geração |  |  | UFV Janaúba |  |  | UFV Corinto |  |  | UFV Manga |  |  | UFV Bonfinópolis II |  |  | UFV Lagoa Grande |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 728 |  |  |  | 1 |  |  |  | 3 |  |  |  | 3 |  |  |  | 2 |  |  |  | 3 |
Cash and cash equivalents |  |  | 378 |  |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |
Non-current |  |  | 3,364 |  |  |  | 18 |  |  |  | 17 |  |  |  | 20 |  |  |  | 12 |  |  |  | 23 |
Total assets |  |  | 4,092 |  |  |  | 19 |  |  |  | 20 |  |  |  | 23 |  |  |  | 14 |  |  |  | 26 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 762 |  |  |  | 2 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | - |
Loans |  |  | 101 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Non-current |  |  | 1,472 |  |  |  | 12 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loans |  |  | 700 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Equity |  |  | 1,858 |  |  |  | 5 |  |  |  | 19 |  |  |  | 22 |  |  |  | 13 |  |  |  | 26 |
Total liabilities and equity |  |  | 4,092 |  |  |  | 19 |  |  |  | 20 |  |  |  | 23 |  |  |  | 14 |  |  |  | 26 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 1,096 |  |  |  | 5 |  |  |  | 4 |  |  |  | 6 |  |  |  | 3 |  |  |  | 6 |
Cost of sales |  |  | (102 | ) |  |  | (2 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Depreciation and amortization |  |  | (157 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | - |  |  |  | (1 | )
Gross income (loss) |  |  | 994 |  |  |  | 3 |  |  |  | 4 |  |  |  | 6 |  |  |  | 3 |  |  |  | 6 |
General and administrative expenses |  |  | (44 | ) |  |  | - |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Finance income |  |  | 41 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Finance expenses |  |  | (233 | ) |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operational income (loss) |  |  | 758 |  |  |  | 2 |  |  |  | 3 |  |  |  | 5 |  |  |  | 2 |  |  |  | 5 |
Income tax and social contribution tax |  |  | (252 | ) |  |  | (1 | ) |  |  | - |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Net income (loss) for the year |  |  | 506 |  |  |  | 1 |  |  |  | 3 |  |  |  | 4 |  |  |  | 1 |  |  |  | 4 |
Comprehensive income (loss) for the year |  |  | 506 |  |  |  | 1 |  |  |  | 3 |  |  |  | 4 |  |  |  | 1 |  |  |  | 4 |
2021 |  | UFV Lontra |  |  | UFV Mato Verde |  |  | UFV Mirabela |  |  | UFV Porteirinha I |  |  | UFV Porteirinha II |  |  | UFV Brasilândia |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 4 |  |  |  | 1 |  |  |  | 1 |  |  |  | 3 |  |  |  | 1 |  |  |  | 3 |
Cash and cash equivalents |  |  | 3 |  |  |  | 1 |  |  |  | 1 |  |  |  | 2 |  |  |  | - |  |  |  | 2 |
Non-current |  |  | 26 |  |  |  | 11 |  |  |  | 9 |  |  |  | 11 |  |  |  | 12 |  |  |  | 27 |
Total assets |  |  | 30 |  |  |  | 12 |  |  |  | 10 |  |  |  | 14 |  |  |  | 13 |  |  |  | 30 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 3 |
Equity |  |  | 29 |  |  |  | 11 |  |  |  | 9 |  |  |  | 13 |  |  |  | 12 |  |  |  | 27 |
Total liabilities and equity |  |  | 30 |  |  |  | 12 |  |  |  | 10 |  |  |  | 14 |  |  |  | 13 |  |  |  | 30 |
Statement of income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales revenue |  |  | 5 |  |  |  | 3 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |  |  |  | 5 |
Depreciation and amortization |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | )
Gross income (loss) |  |  | 5 |  |  |  | 3 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |  |  |  | 5 |
General and administrative expenses |  |  | (1 | ) |  |  | (1 | ) |  |  | (1 | ) |  |  | - |  |  |  | (1 | ) |  |  | (1 | )
Operational income (loss) |  |  | 4 |  |  |  | 2 |  |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 4 |
Income tax and social contribution tax |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | )
Net income (loss) for the year |  |  | 3 |  |  |  | 2 |  |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |
Comprehensive income (loss) for the year |  |  | 3 |  |  |  | 2 |  |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |
Amazônia Energia S.A. and Aliança Norte Energia S.A. Amazônia Energia and Aliança Norte are shareholders of Norte Energia S.A. (‘NESA’), which holds the concession to operate the Belo Monte Hydroelectric Plant. Through the jointly controlled entities referred to above, Cemig GT owns an indirect equity interest in NESA of 11.69%. On December 31, 2023, NESA has negative net working capital of R$578 (R$494 on December 31, 2022). According to the estimates and projections, the situation of negative net working capital, and the future demands for investments in the hydroelectric plant, will be supported by revenues from future operations. On September 21, 2015, NESA was awarded a preliminary injunction ordering ANEEL to abstain from applying penalties or sanctions to NESA in relation to the delay in Belo Monte Hydroelectric Plant to start operations, until the hearing of the application for an injunction made in the original case. NESA management, supported by their legal advisers, have classified the probability of loss as ‘possible’ and estimated the potential loss on December 31, 2023 to R$2,859 (R$2,972 on December 31, 2022). The potential impact for the Company is limited to its investment interest in NESA. Montes Claros photovoltaic plant On June 29, 2022, Cemig approved acquisition, through its wholly-owned subsidiary Cemig Sim, of 100% of the interests held by Genesys Participação Societária Ltda. and by an individual, among other, in the special-purpose company (‘SPC’) Duceu Geradores de Energia, Máquinas e Equipamentos SPE Ltda. (‘UFV Montes Claros’), owner of the Montes Claros photovoltaic plant. On April 28, 2023, Cemig Sim concluded acquisition of 100% of the shares in the Montes Claros photovoltaic generation plant. This was approved by the Brazilian antitrust authority, CADE – its approval is a usual condition precedent in this type of transaction. Below is a summary of the preliminary measurement of the fair value of the assets and liabilities acquired:
|  | Montes Claros photovoltaic plant |
– Net equity of the Montes Claros solar plant |  |  | 20 |
– Added value (fair value – book value) |  |  | 1 |
– Fair value of net assets |  |  | 21 |
Goodwill |  |  | 1 |
Consideration paid for 100% interest in the Montes Claros solar plant |  |  | 20 |
Assets |  |  | Fair value on date of acquisition |  |  |  | Liabilities |  |  | Fair value on date of acquisition |
Current |  |  |  | - |  |  |  | Current |  |  |  | - |
Other current assets |  |  |  | - |  |  |  | Other current liabilities |  |  |  | - |
|  |  |  |  |  |  | Non-current |  |  |  | 5 |
Non-current |  |  |  | 26 |  |  |  | Other non-current liabilities |  |  |  | 5 |
Fixed assets |  |  |  | 19 |  |  |  |  |  |  |  |
Rights of use – Leasing |  |  |  | 5 |  |  |  |  |  |  |  |
Intangible assets |  |  |  | 2 |  |  |  |  |  |  |  |
|  |  |  |  |  |  | Total fair value, net |  |  |  | 21 |
The acquisition will add to the Cemig Group’s participation in the generation sector and total generation output, also contributing to efficient supply to consumers due to the Group’s expertise in this market. Acquisition of interest in special-purpose companies (SPCs) On July 20, 2023, Cemig Sim concluded acquisition of the remaining 51% interests in the following SPCs – becoming the holder of 100% of the shares in these companies: • G2 Olaria 1 Energia S.A., • G2 Campo Lindo 1 Energia S.A., • G2 Campo Lindo 2 Energia S.A. On the same date Cemig Sim also concluded acquisition of 100% of the shares in the SPC SPE G2 Olaria 2 Energia S.A. The aggregate value of these acquisitions was R$47. These four SPCs own four photovoltaic generation plants in full commercial operation, with installed capacity of 13 MWp, operating in the regime of shared distributed mini-generation, in the city of Lavras, Minas Gerais. This transaction underlines the Company’s strategy of growth in distributed generation, with 100% ownership of generation plants under its management, exclusively in the State of Minas Gerais. Goodwill, capital gain and gain on fair value adjustment of previous investment
|  |  | UFV Campo Lindo 1 |  |  | UFV Campo Lindo 2 |  | UFV Olaria 1 |  | UFV Olaria 2 |  |  | Total
Consideration paid |  |  | 10 |  |  | 10 |  | 10 |  | 17 |  |  | 47
Equity adjusted to market value |  |  | 9 |  |  | 9 |  | 8 |  | 15 |  |  | 41
Capital gain |  |  | 2 |  |  | 2 |  | 1 |  | 1 |  |  | 6
Goodwill |  |  | 1 |  |  | 1 |  | 2 |  | 2 |  |  | 6
|  |  | UFV Campo Lindo 1 |  |  |  | UFV Campo Lindo 2 |  |  |  | UFV Olaria 1 |  |  |  | Total |
Previous investment measured at fair value (a) |  |  |  | 10 |  |  |  |  | 10 |  |  |  |  | 9 |  |  |  |  | 29 |
Investment on acquisition date (b) |  |  |  | 7 |  |  |  |  | 7 |  |  |  |  | 7 |  |  |  |  | 21 |
Gain from adjustment to fair value of previous investment (a - b) (1) |  |  |  | 3 |  |  |  |  | 3 |  |  |  |  | 3 |  |  |  |  | 9 |
(1) The gain on the fair value adjustment of the previous holding was recognized under "Fair value adjustment of investments" in the Income Statement. Fair value of acquired assets and liabilities
Assets |  |  | Fair value on acquisition date |  |  |  | Liabilities |  |  | Fair value on acquisition date |
Current |  |  |  | 3 |  |  |  | Current |  |  |  | - |
Other assets |  |  |  | 3 |  |  |  | Other liabilities |  |  |  | - |
|  |  |  |  |  |  | Non-current |  |  |  | 2 |
Non-current |  |  |  | 42 |  |  |  | Other liabilities |  |  |  | 2 |
Fixed assets |  |  |  | 34 |  |  |  |  |  |  |  |
Right of use – leases |  |  |  | 1 |  |  |  |  |  |  |  |
Intangible asset - Right of commercial operation |  |  |  | 7 |  |  |  |  |  |  |  |
|  |  | Total net assets at fair value |  |  |  | 41 |
Absorption of the wholly-owned subsidiaries Cemig Geração Três Marias S.A. and Cemig Geração Salto Grande S.A. On January 24, 2023 Aneel approved transfer of the concessions of the Três Marias and Salto Grande hydroelectric plants to Cemig GT. On May 31, 2023, the merger was approved at the Company's Extraordinary General Meeting (EGM), at book value, with the consequent extinction of the investees as of this date and succession by Cemig GT in all its assets, rights and obligations, under the terms of Article 277 of Law 6.404/1976. Since this was a merger of wholly-owned subsidiaries, there was no capital increase or need to issue new shares in Cemig GT. The merger will optimize Cemig's corporate structure, resulting in cost reductions and generating administrative and financial efficiency. Divestments in shareholdings MESA On March 20, 2023 the Cemig GT completed sale to Furnas Centrais Elétricas S.A of the whole of its direct and indirect stockholding interests in Mesa, equivalent to 7.53% of the share capital of that investee, which is the controlling stockholder of Santo Antônio Energia S.A. (SAE), for R$55. With the conclusion of the sale, Furnas undertook to assume the guarantees given by Cemig and Cemig GT to the Brazilian Development Bank (BNDES) and other creditors, under agreements for financing of SAE, and to hold Cemig and Cemig GT harmless from any obligation relating to these guarantees, up to the time when these obligations are effectively assumed by Furnas. As a result of the sale a capital gain was recognized in March 2023, as follows:
Parent company e Consolidated |  |  |
Direct participation: |  |  | 4.1422 | %
Indirect participation: |  |  | 3.3837 | %
Selling price: |  |  | 736 |
Direct participation (1): |  |  | 30 |
Indirect participation (1): |  |  | 25 |
|  |  | 55 |
Investment cost (2): |  |  | - |
(1) The effects of the sale are presented in the results of the Holdings/Holding operating segment in note 5. (2) The calculation considered the investment balance as of February 28, 2023, which represents the last financial statement prepared for the investee before the sale, used for equity accounting purposes. The investment balance is zero, hence its derecognition did not result in any impact on the profit or loss for the purpose of determining the gain on disposal. The capital gain relating to the direct stockholding was recognized in the income statement for the period, with counterpart in Cash and cash equivalents. The taxes on this amount were R$10, representing 34% (25% corporate income tax and 9% Social Contribution tax on Net Profit). The capital gain on the indirect participation was recognized by the equity method, because of its origin in realization of the equity interest held by Fundo Melbourne in SAAG. Due to the sale of the equity interest by the investment fund, which subsists only for operational reasons necessary for its liquidation, the balance receivable from the funds was recognized in the Statement of financial position as a financial instrument in the ‘Other assets’ group, considering the imminence of receipt of the proceeds. This disposal is part of the execution of Cemig’s disinvestment program, with the aim of redirecting management efforts and allocation of capital to the State of Minas Gerais. The agreement between FIP Melbourne and AGPar - CCBC Arbitration Judgment 86/2016 The share purchase agreement that governed the transaction for acquisition of the shares of SAAG by the Company specifies payment of indemnity to FIP Melbourne by AGPar in the event of any excess cost in Mesa as a result of any causative factor prior to the signature of that agreement. From the conclusion of the transaction in 2014, up to the year 2016, there were extraordinary expenditures, which had to be borne by FIP Melbourne, and which, in FIP Melbourne’s understanding, were within the scope of the provision of the share purchase agreement. Since agreement was not reached with AGPar on these questions, FIP Melbourne filed arbitration proceedings with the Brazil-Canada Chamber of Commerce. The final arbitration judgment was given in January 2021, in favor of FIP Melbourne, and in August 2022 an agreement was signed between the parties to terminate litigation, establishing the updated amount of compensation at R$200, which was paid on September 12, 2022. Considering Cemig GT's participation in FIP Melbourne, the Company has a receivable recorded in the amount of R$256 on September 30, 2023, in the statement of financial position under “Other Assets”. On October 23, 2023, Cemig GT received the updated amount of R$257. Baguari Energia and Retiro Baixo Energética Transaction 1 Share purchase agreements were signed on April 14, 2023 for sale to Furnas Centrais Elétricas of the Cemig GT’s entire stockholding interests in the jointly-controlled subsidiaries Retiro Baixo and Baguari Energia, as follows: (1) for R$200, the 49.9% equity interest held by the Cemig GT in Retiro Baixo, which operates the Retiro Baixo Hydroelectric Plant, in Minas Gerais, with installed capacity of 81.1 MW, and assured energy (physical offtake guarantee) of 34.8 MW. (2) for R$393, the Cemig GT’s indirectly held interest of 34% in the Baguari Consortium, which operates the Baguari hydroelectric plant, in Minas Gerais, with installed generation capacity of 140 MW and assured energy (physical offtake guarantee) of 81.9 MW, representing 69.39% of the share capital of Baguari Energia. In April 2023 the assets were classified as held for sale, at book value, in accordance with IFRS 15, thus having no effect on net profit.
Assets classified as held for sale |  | Book value on Apr. 30, 2023 - R$ thousand |  |  |  | Fair value net of selling expenses - R$ thousand |
Baguari Energia |  |  | 160 |  |  |  |  | 392 |
Retiro Baixo |  |  | 190 |  |  |  |  | 200 |
Total |  |  | 350 |  |  |  |  | 592 |
It was concluded that the assets classified as held for sale do not qualify within the concept of discontinued operations, since they do not represent a significant separate line of business or geographical area of operations, nor do they constitute a subsidiary acquired exclusively for the purpose of resale. Conclusion of the sale of Baguari Energia On October 6, 2023, the Company concluded the sale to Furnas Centrais Elétricas of its entire holding, of 69.39%, in the share capital of Baguari Energia, which represents an indirect interest of 34% in the Baguari Consortium. The value of the transaction was R$433, comprising: the amount of R$393 agreed in the share purchase agreement, plus updating at 100% of the CDI rate since December 31, 2022. Of this total, the amount of R$12 was deducted for the dividend received on October 3, 2023. Thus, the amount received on the closing date of the transaction was R$421. As a result of conclusion of the transaction, the Company recognized the following accounting effects, in October 2023:
Stake held by Cemig GT |  |  | 69.39 | %
Total sale price |  |  | 421 |
Value of asset held for sale on Sep. 30, 2023 |  |  | (160 | )
Corporate capital gain (1) (a) |  |  | 261 |
Tax capital gain net of selling expenses (2) |  |  | 248 |
IRPJ and CSLL (b) |  |  | (84 | )
Tax capital gain net of taxes (1) |  |  | 164 |
Net impact on the Income Statement (a + b) |  |  | 177 |
(1) The effects of the disposal will be reported in the net profit for the operational segment of Equity holdings, in the note 5. (2) Sales expenses totaled R$1 and its refers to accounting, tax and legal due diligence services, and legal advice. Completion of the disposal of Retiro Baixo Energética On November 22, 2023, the sale was completed for the amount of R$223, made up of the amount agreed in the CCVA of R$190 plus 100% CDI adjustment since December 31, 2022. From this total, the amount of R$6 was deducted, referring to the dividend received on June 28, 2023. Thus, the amount received on the closing date of the transaction was R$218. As a result of concluding the transaction, Cemig GT recognized the following accounting effects in November 2023:
Stake held by Cemig GT |  |  | 49.9 | %
Total sale price |  |  | 218 |
Value of asset held for sale on Nov. 30, 2023 |  |  | 191 |
Corporate capital gain (1) (a) |  |  | 27 |
Tax capital gain net of selling expenses |  |  | 6 |
IRPJ and CSLL (b) |  |  | (2 | )
Tax capital gain net of taxes (1) |  |  | 4 |
Net impact on the Income Statement (a + b) |  |  | 25 |
The effects of the disposal will be reported in the net profit for the operational segment of Equity holdings, in the note 5. Transaction 2 On May 30, 2023, a share purchase agreement was signed for acquisition of 100% of the shares in Baguari I Geração de Energia Elétrica S.A., a company controlled by Neoenergia S.A., for R$ 454, formalizing the right of first refusal exercised by Baguari Energia. Baguari Energia and Baguari I respectively hold interests of 49% and 51% in Consórcio UHE Baguari (– the Baguari Hydroelectric Plant Consortium). With the conclusion of Transaction 1, Cemig GT will no longer hold any equity in Baguari Energia and thus have no participation in the Consórcio UHE Baguari. Thus, payment for the purchase of Baguari I by Baguari Energia will be entirely an obligation of Furnas. As a result, Transaction 2 will have no effect on Cemig GT. Axxiom On December 22, 2022, the Company entered into a share purchase agreement ("SPA") for the sale of 49.0% of its equity interest in Axxiom Soluções Tecnológicas S.A. ("Axxiom") to Light S.A. ("Light"), which held the remaining 51.0% interest. On April 17, 2023, the Company completed the sale of its entire stake in Axxiom's share capital. The value of the transaction was a symbolic R$1.00 (one real), with the liquidation of Axxiom's assets and liabilities. This transaction is in line with the Company's Strategic Plan, which provides for the divestment of assets that do not adhere to the Cemig Group's core activities. Reduction of share capital in the jointly controlled subsidiary Guanhães Energia An Extraordinary General Meeting of Stockholders held on September 19, 2023 decided to reduce the share capital by R$235, of which R$137 will be destined to absorption of losses and R$98 will be repaid to stockholders, with no reduction in the number of nominal common shares as currently issued. Thus, the share capital of the jointly controlled subsidiary has decreased from R$549 to R$313. The share of Cemig GT corresponds to R$48; in January 2024 Cemig GT received R$46. This transaction will be reflected in the interim financial statements for the first quarter of 2024. Risks related to compliance with laws and regulations Investigations The Public Attorneys’ Office of the State of Minas Gerais is conducting a civil public inquiry with the objective of identifying any irregularities in the investment of Cemig GT in Guanhães Energia. Up to the date of publication of these financial statements there has been no movement in the process. Accounting policy Investments The Company and its subsidiaries hold investments in affiliates and joint ventures. Control is obtained when the Company and/or one of its subsidiaries has the power to control the financial and operational policies of an entity to receive benefits from its activities. These investments are accounted using the equity method in the parent company and consolidated financial statements and are, initially, recognized at acquisition cost, by the consideration transferred, measured at fair value at acquisition date. The difference between the amount paid and the amount of the shareholders’ equity acquired is recognized in Investments as: (i) added value, when the economic basis is substantially related to the fair value of the net assets of the subsidiary acquired; and (ii)goodwill, when the amount paid is higher than the fair value of the net assets, and this difference represents the expectation of generation of future value. The goodwill arising from the acquisition is tested annually for impairment. Business combinations A business combination occurs when the Company or its subsidiaries acquire control of a business, whatever its legal form. The Company determines that it has acquired a business when the group of activities and assets acquired includes, at least, an input - entry of funds, and a substantive process, which together contribute materially to the capacity to generate output - an outflow of funds. The Company and its subsidiaries accounts business combinations using the acquisition method. Thus, at the moment of acquisition the acquiring company is required to recognize and measure the identifiable assets acquired, the liabilities assumed, and the shareholding interests of non-controlling equity holders at fair value, which will result in recognition of a goodwill due to expectation of future profitability, or in a gain arising from an bargain purchase, the gain being allocated to the Statement of income for the period. Capital gains and losses on acquisition represent the difference between the fair value of the identifiable assets acquired and the fair value of the liabilities assumed. Estimations and judgments Investments in shareholdings The subsequent measurement of these investments is based on the equity method. Subsequent to this measurement, the company assesses whether there are indications of possible impairment in the recoverable value of its investments. Losses, when incurred, are recognized in the income statement if there is any indication that the recoverable value of the investment is lower than its book value. The equity method ceases to be applied from the moment the investment loses its characteristics as an associate, subsidiary or jointly-controlled subsidiary, for example in the case of classification as a non-current asset held for sale. The financial statements of jointly-owned subsidiaries are prepared for the same disclosure period as those of the Company and its subsidiaries. When necessary, adjustments are made to bring the accounting policies into line with those applied by the Company and its subsidiaries. Business combinations Costs generated by acquisition of assets are allocated directly to the Statement of income as and when incurred. After the initial recognition, the goodwill is measured at cost, less any accumulated impairments. For the purposes of the impairment test, the goodwill acquired in business combinations is, as from the acquisition date, allocated to each one of the cash generating units that it is expected will be benefited by the synergies of the combination. It is the Company’s understanding that the amount specifically referred to the right of concession, the right of commercial operation, or similar rights, does not constitute goodwill, including when these rights are acquired in a business combination in which the acquired entity is a concession holder, whose right to the concession has a known and defined period. When a business combination is carried out in stages (“step-acquisition method”), the interest previously held by the Company in its investee is remeasured at the fair value at the acquisition date and the corresponding gain or loss, if any, is recognized in the statement of income. In the parent company, the difference between the amount paid and the amount of the shareholders’ equity of the entities acquired is recognized in Investments based to the criteria described above.

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