rs' report To Ire Sterenders Directors and Management of Renova Energia S A and Bahia &Ace Pancipacees S A.. Salvadx E0lica Participap0es $ A and Energetca Serra da Prata S A Sao Patio—$P le have a mined the accompanying combined CO tance sheets of Renova Energy Projects I. or the 'Group as of December 31. 2014 and 2013