Linhas de Transmissão

A journey focused on developing the country

Founded in 1948, Chesf (Companhia Hidro Elétrica do São Francisco) is consolidated as the concessionaire of one of the largest generation and transmission systems in Brazil. Subsidiary of Eletrobras, the Company - a joint-stock corporation - has headquarters in Recife (PE) and operates in the generation, transmission, and sale of electricity in Brazil. Chesf’s power generation process is concentrated in Northeast Brazil and is influenced by the region’s rainfall regime.

In all, the Company has 12 hydroelectric plants, with 10 reservoirs, which together store 55.8 billion cubic meters of water, responsible for 99.8% of its energy produced in 2017. It also has a biofuel thermal plant and two wind farms, which, together with the hydroelectric plants, total 10,670.23 MW of installed capacity.


Sobradinho São Francisco 1.050,30
Luiz Gonzaga (Itaparica) São Francisco 1.479,60
Apolônio Sales (Moxotó) São Francisco 400,00
Paulo Afonso I São Francisco 180,00
Paulo Afonso II São Francisco 443,00
Paulo Afonso III São Francisco 794,20
Paulo Afonso IV São Francisco 2.462,40
Xingó São Francisco 3.162,00
Funil Rio de Contas 30,00
Pedra Rio de Contas 20,01
Boa Esperança Parnaíba 237,30
Curemas Piancó 3,52
WIND - 61,10
UEE Casa Nova II - 23,90
UEE Casa Nova III* - 28,20
Camaçari** - 346,80
TOTAL 10.670,23

* In operational test phase, commercial operation expected to begin in Feb/18.

** In process of termination of the concession. All units with commercial operations suspended.

The Northern, Northeastern, and Southeastern/Midwestern regions receive energy produced by Chesf through a transmission system, consisting of 20,531.9 km of lines that operate with voltage levels ranging from 69 kV to 500 kV and supply the National Interconnected System (SIN).


> KV > > KM >
69 254,5
138 462,6
230 14.444,19
500 5.372,9
TOTAL 20.531,9

The Transmission System is also composed of 119 substations5 (included in this total are the substations of other transmitters in which Chesf has assets)and another 14 step-up substations, which, together, total 57,321.50 MVA of transformation capacity.

In 2017, the Company added 298 km of OPGW6 fiber optic cables, operating with 10,113 km. This technology is responsible for sending electricity to end consumers in a stable manner, with high speed and reduced loss, offering reliable, quality service.

In addition to its owned facilities, Chesf invests in other generation and transmission projects through Special Purpose Entities (SPEs), which add 10 wind farms and four other hydroelectric plants to the Company’s portfolio. See pages 49 and 50 for more information


> 102-16 >

Chesf’s operation, in all instances, is in line with the values, principles, standards, and norms of behavior set out in the Code of Ethics, in the Resolution, in the Normative Instruction of Disciplinary Measures, and on the Company’s Strategic Map.


To contribute to the well-being of society by generating and transmitting energy


To be corporately efficient and sustainable


> Safety
> Respect for People with fairness and equity
> Ethics and Transparency
> Innovation and Entrepreneurship
> Commitment to Society
> Environmental Preservation


> 102-12 >

Chesf’s strategic vision is to guarantee the company’s sustainable growth and, therefore, undertakes commitments with national and international initiatives toward the dissemination and development of the topic.

1. Global Compact 2009 All three dimensions Voluntary Brazil All stakeholders
2. Declaration of Commitment to Fight Sexual Exploitation of Children and Adolescents 2014 Social Voluntary Brazil All stakeholders
3. Women's Empowerment Principles (UN Women) 2011 Social Voluntary Brazil Workforce
4.Pro-Equity Gender and Race Program 2007 Social Voluntary Brazil Workforce
Educação Solidaria

The Company also participates strategically in associations and committees that hold forums and discussions on sustainability, and promotes public policies related to the sector.

> 102-13 >

Associação Brasileira das Grandes
Empresas de Transmissão de
Energia Elétrica (ABRATE - Brazilian Association of Large Electric Power Transmission Companies)
General Assembly and
Managing Council
Yes Yes DO
Associação Brasileira das Empresas
Geradoras de Energia Elétrica
(ABRAGE- Brazilian Association of Electric Power Generating Companies)
Assembleia Geral e Conselho Fiscal Yes Yes DO
Associação Brasileira de Normas
Técnicas (ABNT-Brazilian Association of Technical Standards)
No Yes Yes DE
Comitê Brasileiro de Barragens Brazilian (Committee of Dams) Yes Yes Yes DE
Comitê da Bacia Hidrográfica do
São Francisco (CBHSF- São Francisco Water Basin Committee)
of the
Hydroelectricity Segment
Yes No DO
Comitê Nacional Brasileiro de Produção e Transmissão de Energia
Elétrica (CIGRÉ - Brazilian Committee for Production and Transmission of Electricity)
Executive Board
(Financial Department))
Yes Yes PR
Comitê de Patrocínio da Secretaria Especial de Comunicação Social da
Secretaria Geral da Presidência da
República (SECOM/PR - Sponsorship Committee of the Special Social Communication Department of the General Secretary of the Presidency of the Republic)
No Yes No PR
Comissão de Ética Pública da Secretaria Executiva de Ética
Pública da Presidência da República (Public Ethics Commission of the Executive Department of Public Ethics of the Presidency of the Republic)
No Yes No PR
National Forum of Ethics in State-owned companies, maintained
through the Technical and Financial
Cooperation Agreement, currently
signed by 20 participating companies
No Yes Yes PR
Conselho Nacional de Recursos Hídricos (CNRH - National Water Resources Council) Council Member
for Concessionaries
and Companies Authorized to
Generate Hydroelectric Power
Yes No DO
COGE Foundation Yes Yes Yes DG
Associação Brasileira de Energia
Solar Fotovoltaica (ABSOLAR- Brazilian Association of Photovoltaic Solar Energy)
No No Yes PR
Memória da Eletricidade (Memory of Electricity) No No Yes PR
American Chamber of Commerce
No Yes Yes PR
Associação Brasileira de Energia
Eólica (ABEEÓLICA- Brazilian Wind Power Association)
No No Yes PR


In 2017, Chesf received the following awards and recognitions:

>Jorge Furtado Regional Development Award: the social responsibility project “Development of actions for agricultural producers and fishermen in the territory surrounding the Sobradinho-BA reservoir,” developed in partnership with Embrapa Semiárido, was awarded in the category of Innovative Projects for Implementation in the Region.

>IV Award for Best Companies for Workers with Disabilities: for the first year, the Company participated in the award and was one of three shortlisted in the “Best Practices” category, competing against another 52 institutions.

>15th Benchmarking Brazil: the Company was among the Top Ten with the Living and Learning Program, making Chesf a Citizen Company for recovering the dignity of men and women through the command of the spoken and written language.

> XXIV National Seminar on the Production and Transmission of Electric Power (SNPTEE): the Company received an honorary award for the work “Investment in Safety and Health at Work as a Business Strategy,” demonstrating the reduction of costs associated with the occurrence of work accidents and occupational disease.

> Seasonal Race Circuit - Spring Heat: awarded as the company with the largest number of participants.

>Patent: The United States, and subsequently, China published the grant of the patent on technological innovation being used in substations. The “Application for Regulation and Parallel Operation of Transformers” was developed within the Company’s Research, Development, and Innovation Program. The technology performs an extremely important function for the electrical system, as it regulates the level of voltage delivered by Chesf to utility companies, which in turn reaches end consumers.


Chesf’s business purpose is to generate and transmit energy, and the strategy of operation of the main areas of the Company is focused on ensuring that this increasingly more renewable production is marketed and reaches end consumers. The challenge is to continually improve operational efficiency by delivering integrated, innovative solutions to people, businesses, cities, and the country. The search for results that create value for stakeholders, not only in the short term but also in the medium and long term, drives the organization’s day to day activities.




In 2017, the Eletrobras companies began the challenge of implementing actions based on the Business and Management Master Plan (PDNG) for the period 2017-2021, which establishes a set of economic and financial guidelines, associated with investment limits, indebtedness capacity, recommended expansion targets and cost of capital. The PDNG is composed of three strategies and 18 initiatives that aim to consolidate corporate sustainability.


  1. 1. Alignment of the by-laws and approval purviews
  2. 2. Implementation of the model 5 Dimensions of Compliance
  3. 3. Eliminate material weaknesses
  4. 4. Implement actions toward listing in indexes and obtaining Corporate Management seals


  1. 5. Reduction of investments
  2. 6. Privatization of distributions
  3. 7. Sale of administrative real estate
  4. 8. Sale of stakes in non-strategic SPEs
  5. 9. Tax optimization
  6. 10. Corporate restructuring for better use of tax credits


  1. 11. Organizational Restructuring
  2. 12. Incentivized Retirement Plan (PAI)
  3. 13. Implementation of PRO-ERP
  4. 14. Shared Services Center
  5. 15. Reduction of administrative costs
  6. 16. Reduction of overtime, hazard pay, and standby
  7. 17. Regulatory Strategy for Generation and Transmission
  8. 18. Integrated energy trading

Learn about how the strategy unfolded by visiting the Eletrobras Investor Relations website: > Financial Information > Central de Resultados


Based on Eletrobras’ PDNG, Chesf developed its Business Management Plan (PNG) for the same period, addressing issues related to the recent evolution of the generation and transmission businesses, the Company’s expansion prospects, the study of opportunities, and regulatory issues. Following the established goals, in 2017 PNG initiatives yielded the following results:

Transmission Works Plan: The Engineering and Construction Department prioritized 47 Transmission projects, of which 24 are scheduled to be completed in 2017, with a Permitted Annual Revenue (RAP - Receita Anual Permitida) of BRL 65 million, and 23 for 2018, with an expected RAP of BRL 62 million. The direct investment required for 2017 totals BRL 593 million, and for 2018, BRL 223 million. In order to realize the investment foreseen in the implementation of this Works Plan, it was necessary to seek a supplementary investment budget of BRL 277 million for 2017.

Generation Works Plan: encompasses the Wind Power Complexes Casa Nova I, Casa Nova II, and Casa Nova III. Regarding Casa Nova I, the budgeted amounts refer to the completion of the Transmission Line and Substation, which will allow the energy to flow between Casa Nova II and III. In order to realize the planned investment of BRL 264 million to implement this Work Plan, it was necessary to seek supplementation of the investment budget of BRL 152 million for 2017.

Plano de Negócios e Gestão Legenda Plano de Negócios e Gestão

Chesf Administration is guided by a Business Management Plan (PNG) that defines the Company’s work plan for the subsequent five years. In 2017, the PNG was revised based on the political and economic scenarios and on Eletrobras’ Plan for Business and Management Guidelines (PDNG); however, it remains aligned with the Company’s Strategic Map, which has not changed. The topic was presented to the Executive Board at a workshop carried out by the Strategic Planning area.

In accordance with the 2017-2021 planning, Chesf’s focus in 2017 was to increase efficiency, compliance, and risk management. Throughout the year, Chesf also worked on an Efficiency Plan to adjust costs with Personnel, Materials, Third Party Services and Other Expenses (PMSO), through restructuring and increased efficiency of processes in the areas.


Mapa Estratégico

The Strategic Objectives are broken down into Strategies and Initiatives. Each strategy has an associated indicator and the initiatives are composed of several projects, allowing all organizational levels to get involved and participate in strategic planning. Monitoring of strategic planning is carried out through meetings with the Executive Board and first-tier management, in order to track the discrepancies between the goals and the results obtained. In 2017, six monitoring meetings were held. The topics covered, and the main results achieved are presented below :

In accordance to the 2017-2021 planning, Chesf’s focus in 2017 was the pursuit of increased efficiency, compliance and risk management


Operating Costs and Restructuring 1 - To apply best practices for managing change, knowledge and people
Redução de 4% em relação ao orçado em 10 contas priorizadas: hora extra; gratificação de sobreaviso; periculosidade; exames periódicos; transportes; obras, manutenção e conservação; segurança física, viagens e documentação.
Redução de 42,5% da quantidade de funções gratificadas e 27,3% nos custos com gratificações.
Reestruturação em 47% das unidades organizacionais, passando de 301 unidades para 162.
Economic and Financial Indices 2 -To increase the organization’s profitability
Lucro de R$ 1.044,0 milhões, representando 73,8% a menos* do que o ano anterior.
Receita operacional líquida (ROL)** apresentou uma diminuição* de 61,3% em relação ao exercício anterior.
Margem EBITDA*** foi de 12,0% em 2017 e 6,0% no ano anterior, representando um aumento de 6,0 pontos percentuais.
R$ 3.423,1 milhões de Custos e Despesas Operacionais apresentando uma diminuição**** de R$ 2.813,6 milhões (45,1%) em relação ao exercício anterior.
Performance in Expansion of Generation and Transmission 3 - To implement New Expansion and Improvement Projects Prioritizing Increased Profitability
Concluídas as Usinas de Energia Eólica (UEE) Casa Nova II e III.
Implantação de 24 Empreendimentos de Transmissão, estabelecendo o maior número de obras energizadas da história da Chesf.
Performance in O&M Improvements for Generation and Transmission 4 -To Perform Operation and Maintenance with Efficiency and Quality
Redução expressiva do número de desligamentos de 205, em 2016, para 76 em 2017, contribuindo para a melhoria dos indicadores operacionais da Chesf.
Melhorias (62) na Transmissão, dos quais 17 foram em Linhas de Transmissão, 10 em Subestações, 25 em Proteção e Automação e 10 em Telecomunicações.
Adequação em 17 Instalações para Tele-assistência.
Corporate Governance 5-To Improve Corporate Governance
Treinamento online de Ética e Integridade, promovido pela Universidade das Empresas (UNISE), para disseminação de princípios éticos e conceitos de integridade corporativa de forma ampla para todos os empregados, alcançando 97% de adesão.
Lançamento do Canal de Denúncias das Empresas Eletrobras, que passou a receber, de forma centralizada, todas as denúncias relativas às Empresas do grupo.
Disposal of Non-Operating Assets N/A = Not Applicable Venda de 17 dos 22 imóveis não operacionais, previstos para o período. Incluídos 2 outros imóveis, não considerados anteriormente no PNG, e que também foram negociados, contribuindo assim para o alcance de 98% da meta de valor previsto inicialmente.

*This variation results from the recognition in 2016 of the amounts approved by ANEEL, related to the transmission assets of the facilities called Basic Network of the Existing System – RBSE.
**Considers deductions of taxes and sector charges.
***Ratio between EBITDA and Net Operating Revenue (NOR).
****This reduction was mainly a result of the variation of BRL 3.1236 billion determined in the record of provision/reversal of impairment/ interest-bearing agreement, with a reversal of BRL 763.3 million in 2017 against the recording of provision of BRL 2.2321 billion in 2016.


The achievement of financial, operational, governance, social, and environmental goals established in the Corporate Contract for Goals and Performance (CMDE) was also monitored by the Board of Directors and Fiscal Council. In most of the indicators monitored by Chesf - related to economic, financial, operational, governance, social, and environmental performance - the goals were reached during 2017. It is worth mentioning that efforts will continue to fully reach the goal (100%), for the next cycle.

For 2018, the Company has acquired new Strategic Management software, which will allow for real-time evaluation of financial, operational, social, and environmental indicators, as well as monitoring of projects and improvements to be implemented, which will streamline management decision-making.


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Chesf values its commitment to society and the preservation of the environment and, therefore, seeks to invest in innovative projects that meet these goals. In view of the climate potential of the Northeastern region, in 2017, the Company invested in wind and solar power generation projects in various states in the region.

Regarding the generation of thermoelectric power, Chesf has prioritized participation in projects with technology based on natural gas, which is environmentally more suitable, since it pollutes less than other fossil fuels.

In 2017, the transmission segment did not participate in new auctions. The Company prioritized the implementation of contracted projects and strengthening of existing facilities.

6 Incluindo as subestações de outras transmissoras em que a Chesf possui ativos.
7 Optical Ground Wire, em português: fio de aterro óptico.