GRI Magazine Infra - 8 edição by GRI Club

SPECIAL EDITION Jan • Feb • Mar 2018 // Year 2 • 8th Edition

YEARBOOK 2017-2018

The executives and companies that are part of the GRI Club Infra

ANNUAL REPORT

The overall activies of the club in 2017

INDUSTRY PERSPECTIVES

What infrastructure leaders of various countries expect over the next 12 months

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EDITOR’S LETTER

Mario Miranda Filho

To start the conversation

e start 2018 with a special edition of GRI Magazine. It’s special because it brings together the most important infrastructure leaders from various parts of the globe and the major issues around which the sector’s businesses are concentrating and will roll out this year.

The publication is divided into three key parts: The GRI Club Infra annual report, which lists the club’s most important activities in Latin America and India in 2017, through working meetings with the public sector, exclusive club meetings with members, large events open to other senior industry executives, white papers with proposals for the evolution of infrastructure addressed to public sector and stages of the GRI Barometer, the ongoing market sentiment indicator. An overview of what is to come in the infrastructure market in 2018, the opinion of more than ten of the infrastructure giants from various countries. And the GRI Club Infra yearbook, which brings together all members of the club, with executives and companies from Brazil, Mexico, Chile, Peru, Colombia, Panama, the United States, Canada, China and India. This edition was intentionally produced entirely in English and has been distributed

globally, covering audience.

our

entire

In light of all these achievements and prospects for the new year, GRI Club Infra is starting an even more intense 2018 with a series of innovations. One of them is the launch of China Week, bringing Latin American infrastructure leaders to the Asian behemoth to visit companies face-to-face and further strengthen relationships and new business potential. In this context, the China-Latam GRI Infrastructure Summit, in its third edition, will be part of a week’s schedule in an environment even more conducive to high level discussions and propositions. Other highlights for 2018 are the new GRI Club Infra partnerships with renowned institutions which share common causes to deepen efforts for global industry advancement. The club has just established a cooperation agreement with the Climate Bonds Initiative (CBI) to work together for the international development of the green bond market. It also joined the Global Infrastructure Hub, created by the G20 to support the expansion of a global pipeline of qualitative and fundable

infrastructure projects. The idea is to outline strategies for joint action, beginning with the participation of the organization’s leaders in the Infra Latin America GRI 2018. Much more is being planned and you will hear more every detail over the upcoming months. I wish you a great 2018, an enjoyable read, and I look forward to seeing you at GRI meetings throughout the year.

AIRTON MEDEIROS GLOBAL VICE PRESIDENT

TABLE OF CONTENTS GRI CLUB INFRA ANNUAL REPORT FOR 2017 PAGE 06

INFRASTRUCTURE SECTOR PERSPECTIVES FOR 2018 PAGE 26

GRI CLUB INFRA YEARBOOK PAGE 31

GRI is a global club that brings together key players in the real estate and infrastructure sectors. Founded in 1998 in London, it has been strategically placed in 20 countries. In Brazil, it has been active since 2010. GRI’s mission is to connect the leaders of these markets and contribute to the building of privileged relationships and real business opportunities. In this context, more than 4,000 executives participate annually in club meetings around the world.

GRI LEADERS IN BRAZIL

CEO: Gustavo Favaron. Global vice president: Airton Medeiros. Managing director: Diego Tavares. Global Infrastructure leader: Pedro Nicolau Senior directors: Guilherme de Mauro, Leonardo Di Mauro (Latin America), Pedro Henrique Vieira (Sales) and Robinson Silva (head of Real Estate to the Brazilian market).

GRI OFFICE IN ENGLAND Suite 02B137, 2 Eastbourne Terrace Londres, W2 6LG

Sector directors: Fernanda Magnabosco (Real Estate), Melissa Dalla Rosa (Infrastructure), Moisés Costa Cona (Infrastructure), Patrícia Frazatto (Real Estate) and Talita Quirino (Latin America). Department directors: Fabio Farias (Sponsorship), Giovanna Carnio (Communications), Kelly Naomi Tamaribuchi (Sponsorship), Marcelo Biazotto (Sponsorship) and Weslei Lemos (Operations). Department managers: Giovana Segatto (Research), Iramaia Beltrame (Talent Development), Izabela Rocha (Finance) and Vincent Littel (Business Intelligence). Design leader: José Jurs. Relationship managers: Agostina Airaudo, André Machado, Andrea Ferraz, Bruna Carvalho, Bruno Mesquiari, Daiane Queiroz, Danielle

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Cavalheri, Giovana Caravetti, Henrique dos Santos Júnior, Josiane Bull, Juliano Augusto, Kaique Moreira, Marcelo de Souza Silva, Priscila Nunes and Sebastian Vergara Lasso.

GRI MAGAZINE INFRASTRUCTURE

8th EDITION JAN. FEB. MAR. 2018

Editor-in-chief: Giovanna Carnio Reporters: Estela Takada and Nathalia Barboza Translations: Alan Haywood, Erik Olsen and Sarah Robertson Layout: Camila Janaina Diebe and José Jurs Printing: Gráfica Santa Edwiges Circulation: 10,000 copies

EDITORIAL ADVISORY BOARD

Bruno Werneck, partner at Mattos Filho Advogados; Cassio Viana de Jesus, head of Alternative Investments at Caixa Econômica Federal; Dênio Cidreira, president of Itaipava Arena Fonte Nova; Hamilton Amadeo, CEO of Aegea Saneamento; and Julio Fontana Neto, CEO of Rumo.

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JAN • FEB • MAR ■ 2018 // 5

ANNUAL REPORT

Photos composition iStock

Annual report GRI Club Infra Latin America: activities in 2017

hroughout 2017, the GRI Club Infra promoted a wide range of activities in various parts of the globe. In total, they were:

2 advisory board meetings; 5 technical meetings with authorities for joint public-private work; 14 club meetings exclusive for members; 3 stages of the GRI Economic Series, which brings together high profile names from the economic field for dialogue with members; 6 events open to members and other industry leaders; 2 rounds of the GRI Barometer, which measures the mood of the market; And 9 white papers with proposals to the public sector to promote advances in infrastructure.

On the following pages, see the highlights of the year to come in detail.

ADVISORY BOARD MEETINGS

ANNUAL REPORT

GRI Club Infra advisory board meetings Mark Reinertson

he advisory board of the GRI Club Infra met on two occasions during 2017. The first was in New York, shortly before the opening of Infra Latin America GRI 2017 on May 15th, held to define priorities for the club in the region during the year. Present were advisers from all of Latin America.

The second meeting took place on September 20th in São Paulo, preceding the agenda of Infra Brazil GRI 2017, and gathered board members in Brazil. The high level of the participants led to quality discussion around the direction of the market and guidelines for the club in 2018. A list of advisory board members can be found on page 31.

ADVISORY BOARD MEETING IN NEW YORK

Mario Miranda Filho

BOARD MEETING IN SÃO PAULO

JAN • FEB • MAR ■ 2018 // 7

ANNUAL REPORT

TECHNICAL MEETINGS

Technical meetings with the public sector n 2017, the GRI Club Infra intensified its work with government, establishing a series of technical meetings and creating publicprivate working groups to stimulate advances in the area of infrastructure – notably, discussing and presenting proposals to remove obstacles to project financing.

In addition, on October 4th, members of the GRI Club were received in São Paulo by Jorge Arbache, secretary of International Relations of the Brazilian Ministry of Planning, to further dialogue on the Brazil-China Cooperation Fund for the Expansion of Production Capacity initiated in August with the participation of minister Dyogo Oliveira in a club meeting (learn more on page 11). Adriana Lorete and Mario Miranda Filho

As part of this effort, on May 29th and August 18th, the club convened meetings of its board members and state members with Eduardo Guardia, executive secretary of the Brazilian Ministry of Finance, and João Manoel Pinho de Mello, head of the Special Advisory Office for Microeconomic Reform, at the ministry’s headquarters in São Paulo. The club also held talks with the Brazilian Development Bank (BNDES) in Rio de Janeiro and São Paulo, highlighting a meeting on June 2nd of advisory board members with Marilene Ramos and Luciene Machado, respectively Infrastructure director and superintendent of Transportation and Sanitation of the bank; and another one on December 12th with Luciene Machado. ONE OF THE TALKS HELD WITH BNDES LEADERS

MEETING WITH JORGE ARBACHE (MINISTRY OF PLANNING)

TECHNICAL MEETING WITH EDUARDO GUARDIA (MINISTRY OF FINANCE)

CLUB MEETINGS

ANNUAL REPORT

he necessary new era of investments in sanitation in Brazil was the subject of a club meeting held on March 10th in São Paulo, with the presence of over 40 national level leaders of this area.

Six special guests shared their insights about the state of the industry and its future perspectives, as well as detailing the cases of their organizations. Among them: Jerson Kelman, president of Sanitation Company of the State of São Paulo (Sabesp), Mounir Chaowiche, president of Sanitation Company of the State of Paraná (Sanepar), Paulo Roberto de Oliveira, CEO of GS Inima Brasil, Edison Carlos, executive chairman of Instituto Trata Brasil, Andre Clark, then country director of Acciona Brazil (now CEO of Siemens Brazil), and Miguel Noronha, managing director of BMPI.

1 Mauricio Endo (KPMG), Jerson Kelman (Sabesp) and Edison Carlos (Trata Brasil) 2 Andre Clark (then Acciona, now Siemens) and Paulo Roberto de Oliveira (GS Inima Brasil) 3 Miguel Noronha (BMPI) and Guilherme Esmanhoto (ALG Brasil)

Future of renewable energy 1

Among the subjects discussed at the meeting were the need for greater predictability and flexibility to favor investment, the government’s new strategy of terminating energy supply contracts and the possibility of progress in the dollarization of contracts.

1 Eduardo Azevedo (Ministry of Mines and Energy) and Wilson Ferreira Junior (Eletrobras) 2 Marcelo Girão (Itaú BBA) and Guilherme Caixeta (GIC) 3 Humberto Farias (Âmbar Energia) and Renato Sucupira (BF Capital)

Mario Miranda Filho

hat can be expected in the renewable energy segment in Brazil in the short, medium and long terms? To answer this question, the GRI Club organized a club meeting on May 4th in São Paulo with the presence of about 40 players. The meeting had, as special guest, Eduardo Azevedo, secretary of Planning and Energy Development of the Ministry of Mines and Energy of the country.

JAN • FEB • MAR ■ 2018 // 9

Andrea Felizolla

Challenges in the sanitation sector

ANNUAL REPORT

CLUB MEETINGS

Mexican plan for PPPs embers of GRI Club Infra met on June 29 to discuss Mexico’s Federal PublicPrivate Partnerships Plan (APPs), addressing project characteristics, financing alternatives, risks, challenges and other key issues to ensure its success.

For this meeting in the Mexican capital, the GRI Club brought, as special guests, two executives from the National Bank for Public Works and Services (Banobras): Andrés Morfín Fuentes, director of Social Infrastructure, and Miguel Ramírez Cortéz, director of Transport Projects. They shared measures that are being adopted to encourage private participation in road, water and hospital projects.

1 In the centre, Miguel Ramírez Cortéz, Andrés Morfín Fuentes (both from Banobras) and Melissa Dalla Rosa (GRI Club) 2 Alejandro Pérez (Bank of TokyoMitsubishi) 3 José Ricardo Carreira Rodrigues (Aldesa)

Dante Castillo

ecree 9.048, signed in May, modified the operating regime for organized ports and port facilities in Brazil. This drew 45 major players to a GRI Club meeting on June 11th in São Paulo.

The meeting had as special guests Diogo Piloni (Brazilian Government Investment Partnership Program – PPI), Tércio Carvalho (then president of Companhia Docas de São Sebastião, now a partner in Garín Investimentos), Marcos Pepe Bertoni (Corredor Logística e Infraestrutura) and David Goldberg (Terrafirma). On the agenda, the new norm opening opportunities for investment in new and existing contracts.

Mario Miranda Filho

New Brazilian ports decree

1 Marcos Pepe Bertoni (Corredor Logística e Infraestrutura), Tércio Carvalho (then Companhia Docas de São Sebastião, now Garín Investimentos) and David Goldberg (Terrafirma) 2 Davi Cade (Conext) and Felipe Vinagre (Credit Suisse) 3 Luciana Parente (Carioca Engenharia)

Minister Dyogo Oliveira (Ministry of Planning) and Roberto Jaguaribe (Apex-Brasil) 2 Sylvia Coutinho (UBS Brazil), Jean Le Corre (BCG) and Petrônio Braz (Queiroz Galvão) 1

n August 7th, the GRI Club Infra hosted the Brazilian Planning minister, Dyogo Oliveira, to discuss with some 90 members ways to develop infrastructure in Brazil. The BrazilChina Cooperation Fund for the Expansion of Productive Capacity, launched at that moment, dominated the discussions.

1 2

In addition to the minister, Jorge Arbache, secretary of International Relations, and Roberto Jaguaribe, president of the Brazilian Agency for the Promotion of Exports and Investments (Apex-Brasil), were invited as special guests.

Saurabh Agarwal (CDPQ), Madhu Terdal (GMR Group) and Pushkar Kulkarni (CPPIB) 2 Vikram Kapur (McKinsey) Nihar Shah (IFC) and Luis-Miguel Gutierrez (KFW IPEX Bank) 3 Krishna Kumar (IL&FS) and Sandeep Upadhyay (Centrum)

Soumendra k Dhal

Flavio Guarnieri

Minister of Planning and the Brazil-China Fund

Investments in India RI Club Infrastructure India members and guests gathered for the first club meeting in Mumbai on August 31st. Constituents discussed global investment into infrastructure in India and looked at the opportunities in airports, ports, energy, rail and roads.

Members expanded upon their views, where some of the following points were raised: most investors would like to back complete assets rather than isolated projects; many industry leaders feel that foreign money is easily available through the developer route, but emphasised the need for consistent policies as it was indicated that capital is not a core issue for infrastructure in India; and many consider that uncertainty, ambiguity and risk should be improved by the government. JAN • FEB • MAR ■ 2018 // 11

ANNUAL REPORT

CLUB MEETINGS

Brazilian logistics plan

1 Henrique Amarante da Costa Pinto (PPI) 2 Gustavo Barreto (Grupo CCR)

The PNL presents a diagnosis of the scenario and proposals for investment up to 2025 to improve the efficiency of transport infrastructure and logistics in the country. About 40 industry leaders participated in the discussion.

Flavio Guarnieri

Reform of the electricity sector

Karin Luchesi (CPFL Energia), Marcio Trannin (Enel Soluções Brazil), Luiz Barroso (EPE) and Rui Altieri (CCEE) 2 Reynaldo Passanezi Filho (ISA CTEEP) and Luiz Ciocchi (Emae) 3 Luiz Barroso, Augusto Francisco Silva (Celg GT), Manoel Ribeiro (Construtora Queiroz Galvão) and Emílio Matsumura (EPE)

he Brazilian electricity sector is currently undergoing its third major reform in two decades. Players discussed concerns over the new rules and the transition process at a GRI Club Infra meeting on September 1st in São Paulo.

Flavio Guarnieri

enrique Amarante da Costa Pinto, Public Policy secretary of the Brazilian Government’s Investment Partnerships Program (PPI), and José Carlos Medaglia, president of the Brazilian Planning & Logistics Company (EPL), attended a club meeting on September 1st in São Paulo to personally show the structure of and discuss with club members details of the new National Logistics Plan (PNL), which was in the final phase of organisation.

The Energy Research Company of the federal government (EPE) was represented at the meeting by its president, Luiz Barroso, and the adviser Emilio Matsumura. Also present were Rui Altieri (Electric Energy Trading Chamber – CCEE), Karin Luchesi (CPFL Energia) and Marcio Trannin (Enel Soluções Brazil), in a debate that brought together about 40 important leaders in the electricity sector.

n September 6th, GRI Club Infra organized a club meeting in Bogotá to address a key issue for Colombian infrastructure: the necessary measures for a successful implementation of the 4G Program projects, the fourth generation of local road concessions.

Cris Cadorna

On the agenda, measures to recover the confidence of banks and investors, aspects critical to the structuring of projects and the management of contracts, and the pipeline of new infrastructure works in the country. Participants included leaders of large private companies and representatives of the public sector as Rodolfo Castiblanco Bedoya (Ministry of Transport).

1 Carlo Bongianni (FDN) and Santiago Pardo (Astris) 2 Pablo Muñoz Toro (Grupo Bancolombia) and María Guarín (IFC) 3 In the centre, Poldy Osório (ANI)

1 In the centre, Rodolfo Castiblanco Bedoya (Ministry of Transport) 2 David Blanco Caballero (Iridium) 3 Miguel Toledo (IFC) and Astrid Fernandez (Deloitte) 4 Carlos Ignácio Hoyos Espinosa (Banco de Occidente)

Actions to unlock funding easures to unlock the financing of infrastructure projects in Colombia were the focus of GRI Club Infra meeting on November 9th in Bogotá. Carlo Bongianni, head of the Origination Group of the National Development Finance Agency (FDN), and Poldy Osório, Project manager of the National Infrastructure Agency (ANI), were invited as special guests.

Participants discussed issues such as differentiated funding structures to overcome long-term challenges; distribution of environmental, social and property risks; and solutions to stimulate the participation of international banks in the financing of projects. JAN • FEB • MAR ■ 2018 // 13

Cris Cadorna

Colombian highway concessions program

CLUB MEETINGS

Energy generation and transmission

1 Victor Hugo Luque Salcedo (Secretariat of Energy) 2 Jorge Araujo Balderas (CFE) 3 In the centre, Jesús Antonio Leal Félix (Banobras)

he GRI Club meeting held in november 14th in Mexico City focused on opportunities expected for energy generation and transmission in Mexico in the medium and long terms. The main subjects discussed were the new role of Federal Electricity Commission (CFE), the continuation of energy reform and the need for more synergy among authorities, development bank and commercial banks.

The meeting had, as special guests, Victor Hugo Luque Salcedo, general supervision manager at State Companies Office of the Secretariat of Energy, Jorge Araujo Balderas, Investments Projects director at CFE, and Jesús Antonio Leal Félix, Power Energy director at National Bank of Public Works and Services (Banobras).

Mariano Campetella

Opportunities in 2018 1 Tomás Darmandrail (Ministry of Finance and Public Finance) 2 Jesko Hentschel (World Bank) and Daniel Rodriguez (Banco Patagonia)

he recently launched Argentinian plan for public-private partnerships and infrastructure opportunities (divided into mines and energy, transportation, communications and technology, sanitation and housing, and health, justice and housing) were the focus of discussions at a GRI Club meeting held on November 21st in Buenos Aires with the presence of major players in infrastructure.

Tomás Darmandrail, secretary of PPPs of Argentina (Ministry of Finance and Public Finance), who was specially invited for the occasion, spoke about regulation, structuring, financing and guarantees to the 60 infrastructure projects that the government is presenting to the private sector after the passage of law 27,328 (the PPP law).

Dante Castillo

ANNUAL REPORT

Perspective in Chile

The meeting had as special guests Andrés Rebolledo Smitmans, then minister of Energy, and Louis de Grange, professor of Public Policy at Universidad Diego Portales and advisor to transport matters to Sebastián Piñera, at that point presidential candidate.

1 Andrés Rebolledo Smitmans (then minister of Energy) 2 In the centre, Louis de Grange (Universidad Diego Portales) 3 Lionel Quezada (Suez)

Marcelo Tapia

he first club meeting of GRI Club Infra Latin America in Chile, held on December 5 in Santiago, discussed the country’s infrastructure prospects, the sectors with the most potential for development, and the most attractive projects for investors and operators.

India’s regulatory environment RI Club Infrastructure India members and guests gathered for a club meeting in Mumbai on December 6. Participants shared insights into the India’s regulatory environment for key infrastructure sectors as power, renewables, airports, ports, roads and railways.

Soumendra k Dhal

1 Pedro Nicolau (GRI Club) and Pushkar Kulkarni (CPPIB) 2 Chittaranjan Tripathy (Axis Bank), Shishir Jain (Srei Infrastructure Finance) and Saurabh Bhargava (Essar Ports Limited) 3 Shubhranshu Pani (JLL India) and Suvek Nambiar (Infradebt)

Member discussion raised some provocative points around strategies to address the lack of necessary development in sectors such as roads, airports and renewables. It was agreed these have seen improvements in the past five years but much more is needed. The rail sector also requires a new and safe institutional framework to attract further private investment, participants said. JAN • FEB • MAR ■ 2018 // 15

ANNUAL REPORT

GRI ECONOMIC SERIES

GRI Economic Series he GRI Economic Series has had three important stages in 2017, with the participation of special guests: Roberto Setubal, then CEO of Itaú Unibanco, on March 29th; Zeina Latif, chief economist at XP Investimentos, on August 16th; and Maílson da Nóbrega, a former finance minister and one of the founders of Tendências Consultoria, on August 24th.

1 Gustavo Favaron (GRI Club) and Maílson da Nóbrega (former minister) 2 Roberto Setubal (Itaú Unibanco) 3 Zeina Latif (XP Investimentos) 4 Thomas Brull, Hamilton Amadeo (both from Aegea) and Fernando Camargo (LCA Consultores) 5 Sylvia Coutinho (UBS Brazil) 6 Luiz Ciocchi (Emae)

Mario Miranda Filho

Each meeting brought together in São Paulo about 100 members of the GRI Club Infra and the GRI Club Real Estate to discuss political-economic perspectives and their impacts on business. Trends for GDP, interest, credit, foreign exchange and the electoral race of 2018 were among the main issues addressed.

OPEN MEETINGS

ANNUAL REPORT

Infra Latin America GRI 2017 n May 15th and 16th, GRI Club Infra promoted the second Infra Latin America GRI in New York, which brought together 160 infrastructure leaders from Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, Peru and Uruguay, as well as Canada, the United States, Spain, France, Switzerland and Turkey. Bottlenecks and solutions to unlock investments in energy, social infrastructure, sanitation, waste and transportation in Latin America were the focus of the discussions.

The event was attended by special guests Joaquim Levy, general director and chief financial officer of the World Bank Group; Marc Chandler, senior vice president of Investor Services at Brown Brothers Harriman; and the Brazilian governors Geraldo Alckmin (state of São Paulo) and Pedro Taques (state of Mato Grosso).

1 César Cañedo-Arguelles (Cifi) and Miguel Toledo (IFC) 2 Governor Geraldo Alckmin (state of São Paulo) and André Abucham (Engeform) 3 Joaquim Levy (World Bank) 4 Governor Pedro Taques (state of Mato Grosso) 5 Nacho Ruiz (Cubico Sustainable Investment) and Ralph Scholtz (Bank of Tokyo-Mitsubishi)

Mark Reinertson and GRI

JAN • FEB • MAR ■ 2018 // 17

ANNUAL REPORT

OPEN MEETINGS

Infra Brazil GRI 2017

he 2017 edition of Infra Brazil GRI was the stage for the debate on and proposal of ways for Brazil to face its most urgent infrastructure demands. The two day program, on September 20th and 21st, hosted about 200 of the most important public and private players who shared their visions and experiences.

The meeting, held in São Paulo, had among its highlights a talk show in which representatives of six major investors pointed out how they were dealing with domestic opportunities. Participants were Marcos Almeida (Brookfield), Ricardo Szlejf (CPPIB), Thiago Silva (OTPP), Guilherme Caixeta (GIC), Ricardo Castanheira (CCR) and Bruno Sena (BMPI). 2

Roberto Deutsch (Camargo Corrêa) Helcio Tokeshi (Secretariat of Finance, state of São Paulo) 3 André Pepitone (Aneel) 4 Giuliano Dragone (GS Inima Brasil), Pedro Alves (BMPI) and Hamilton Amadeo (Aegea Saneamento) 5 João Manoel Pinho de Mello (Ministry of Finance) 6 Carlo Zorzoli (Enel Brasil) 7 Cheryl Hanway (IFC), Guilherme Caixeta (GIC) and Anton Kobzev (OTPP) 8 Julio Fontana (Rumo) and Miguel Noronha (BMPI) 1

Andrea Felizolla and Mario Miranda Filho

Other highlights of the schedule were matchmaking rounds, the launch of the GRI relationship app and a VIP dinner with live music and wine tasting.

GRI Forum of PPPs and Concessions in Municipalities 2017 he more than 150 players participating in the 1st GRI Forum of PPPs and Concessions in Municipalities, held on October 26th in São Paulo, foresaw a favorable scenario unfolding in Brazil for infrastructure projects in this area. Investors, financiers and concessionaries discussed progress and challenges with representatives of municipalities from the entire country.

3 1 Luiz Maureer (World Bank) and Luciene Machado (BNDES) 2 Victor Albuquerque (Privatization Office, São Paulo City Hall) 3 Airton Medeiros (GRI Club), Marcos Holanda (Banco do Nordeste), Jonas Donizete (National Front of Mayors) and Martin Raiser (World Bank) 4 Maria Lúcia de Camargo (Cotia City Hall) 5 Paulo Roberto de Oliveira (GS Inima Brasil) 6 Celso Pedroso (Solví)

JAN • FEB • MAR ■ 2018 // 19

Andrea Felizolla

At the opening, participants spoke with Jonas Donizette, mayor of the city of Campinas (state of São Paulo) and president of the National Front of Mayors, Martin Raiser (World Bank) and Marcos Holanda (Banco do Nordeste) on the roles of public entities and investors. Roundtables were held on the future of PPPs and municipal concessions in sanitation, waste, mobility, public lighting and social infrastructure, as well as lectures and case presentations.

ANNUAL REPORT

OPEN MEETINGS

GRI PPPs Forum in Bahia and Paul McCartney concert

he 1st GRI Forum of PPPs in Bahia, on October 20th in Salvador, was a joint initiative of the GRI and Arena Fonte Nova, and provided an exclusive experience for club members: a meeting with the governor of the state, Rui Costa, followed by a show by Paul McCartney with seats in a private box.

The governor and club members discussed solutions and partnership opportunities. Also present were state secretaries Jaques Wagner (Economic Development) and Manoel Vitório (Finance) and the chief of Staff, Bruno Dauster. For Rui Costa, in addition to very well structured projects and constant monitoring by auditing and executive agencies, a fundamental element for the state of Bahia to accelerate Public-Private Partnerships was the creation of the Bahian Guarantor Fund for Partnerships (FGBP).

Vaner Casaes/Agência BAPress

1 Manoel Vitório (Secretariat of Finance, state of Bahia) 2 Airton Medeiros (GRI Club), governor Rui Costa (state of Bahia) and Jacques Wagner (Secretariat of Economic Development, state of Bahia) 3 Dênio Cidreira (Arena Fonte Nova) 4 Mauricio Endo (KPMG), Bruno Dauster (chief of Staff of Bahia) and Cleyton Barros (Global Infrastructure Hub) 5 Paul McCartney concert

China-Latam GRI Infrastructure Summit 2017 ore than 150 Chinese and Latin American players from the infrastructure sector attended the China-Latam GRI Infrastructure Summit 2017 on November 6th in São Paulo. The meeting, promoted by the GRI Club in partnership with the Brazilian Association of Chinese Enterprises (Abec) and the Chinese Council for the Promotion of International Trade (CCPIT), laid out all the supply and demand points and made clear the willingness of the Chinese to invest in the region and the increased receptivity of the locals to the Chinese.

In the program, in addition to panels focused on segments such as energy, ports and railways, a talk show discussed progress and challenges in China-Latin America relations. Chen Peijei, consul general of China, Igino Mattos, director of the Brazilian Government’s Investment Partnerships Program (PPI), Tomás Darmandrail, secretary of PPPs of Argentina (Ministry of Finance and Public Finance), and Magdalena Viera, director of Uruguay’s PPPs (Ministry of Planning and Budget), took part in the talk show.

1 Li Xiangyu (SPIC) and Gonzalo Ranea (Distrocuyo) 2 Eduardo Centola (Banco Modal) and Xinyu Liu (CCCC) 3 Andre Dorf and Chen Daobiao (both from CPFL Energia) 4 Nicolas Song and Jun Zhang (both from CREC 10) 5 Jackie Xiang (CHINT) 6 Airton Medeiros (GRI Club), Tomás Darmandrail (Ministry of Finance and Public Finance of Argentina), Igino Mattos (Brazilian PPI), Chen Peijei (Consulate of China) and Magdalena Viera (Ministry of Planning and Budget of Uruguay) 7 Igino Mattos 8 Dong Lin (Stategrid)

JAN • FEB • MAR ■ 2018 // 21

Mario Miranda Filho

OPEN MEETINGS

Infra Mexico GRI 2017

Dante Castillo

ANNUAL REPORT

Gerardo Salazar (Grupo Financiero Interacciones) 2 Sergio Forte Gómez (Banobras) 3 Bernardo Serafim (Vinci Concessions) and Carlos Redondo (Roadis) 4 Juan Rojas (ALG Global) and Aniceto Huertas (Afore Citibanamex) 5 Juan Pablo Rubiolo (AES México) and Patrick Enriquez (Brookfield) 6 Anton Kobzev (OTPP), Diego Canales (GIC) and Eduardo Agostini (CAF Latin America Development Bank) 1

n September 12th and 13th, the first Infra Mexico GRI took place in Mexico City. Keynote speakers were: Sergio Forte Gómez, deputy general director of the National Bank for Public Works and Services (Banobras), and Gerardo Salazar Viezca, general director of Grupo Financiero Interacciones.

A large group of investors, developers, concession holdings and local and international operators shared experiences and debated a series of topics related to the various infrastructure segments in the country, with emphasis on transportation and energy. The peculiarities of the Mexican market and funding alternatives permeated the discussions.

GRI BAROMETER

ANNUAL REPORT

GRI Barometer The mood of the infrastructure sector in 2017

hroughout 2017, the GRI Club Infra monitored the mood of infrastructure players in Brazil through its Barometer, detecting variations directly related to the performance of the economy and the decisions of the public sector.

PERCEPTION OF LATIN AMERICA In May,

83,5%

The club has also produced special research covering Latin America as a whole. Check out some highlights of the year:

of the players heard by the GRI Club were optimistic or strongly optimistic about Latin America in the 12-36 months following.

The players’ willingness to invest in Brazil fell by 4 percentage points from the first to the second half of the year. In March, 52.3% indicated that their companies were investing in this sector in the country. By September, the share fell to 48.3%.

APPETITE FOR INVESTMENT IN BRAZIL

LATIN AMERICAN COUNTRIES WITH MORE INFRASTRUCTURE OPPORTUNITIES

Most attractive segments in Brazil ... ... for new concessions and/or PPPs

1st 2

In the survey conducted in Brazil in March, 110 players were heard; in September, 123. In the Latin American survey produced in May, 127 players were consulted.

AIRPORTS

2nd

MARCH / 2017

ENERGY TRANSMISSION

SANITATION

3rd

MARCH / 2017

SEPTEMBER/2017

1st

MEXICO

COLOMBIA

BRAZIL

MARCH / 2017

SEPTEMBER/2017

... for M&A and consolidation operations ENERGY GENERATION

SEPTEMBER/2017

AIRPORTS

2nd

MARCH / 2017

SEPTEMBER/2017

6th

MARCH / 2017

ENERGY TRANSMISSION

SEPTEMBER/2017

4th

FAVORITE SEGMENTS IN THE REGION

MARCH / 2017

HIGHWAYS

POWER GENERATION

POWER TRANSMISSION

JAN • FEB • MAR ■ 2018 // 23

ANNUAL REPORT

WHITE PAPERS

White papers was a full year for GRI Club Infra in the production of white papers. With suggestions from its members, endorsed by the legal committee and the advisory board, these papers presented proposals for concrete improvements in the infrastructure sector on multiple fronts.

2017

The documents, most of them written with BCG, were conceived of after discussions from club meetings and open meetings on the respective themes and were addressed to the competent government bodies for implementation. See the GRI Club Infra white papers in 2017 and access their full content in the links provided:

GRI Club Infra proposals for the attraction of private investment to the sanitation sector in Brazil

GRI Club Infra proposals to promote the expansion of renewable energies in Brazil

White paper

www.griclub.org/wp-sanitation

White paper

PROPOSTAS DO GRI CLUB INFRA Para a atração de investimentos privados ao setor de saneamento no País

THE FUTURE OF RENEWABLE ENERGY IN THE BRAZILIAN ENERGY MATRIX Opportunities for growth?

Março de 2017

June 2017

GRI Club Infra proposals for Brazil to develop funding mechanisms for infrastructure

GRI Club Infra proposals towards a new level of investments and efficiencies in Brazilian ports

White paper

www.griclub.org/wp-funding-mechanisms

FINANCIAMENTO À INFRAESTRUTURA NO BRASIL Como avançar?

Junho de 2017

www.griclub.org/wp-renewable-energies

White paper

PORTOS BRASILEIROS Propostas rumo a um novo patamar de investimentos e eficiência Setembro de 2017

www.griclub.org/wp-brazilian-ports

GRI Club Infra proposals for the progress of logistics transportation in Brazil

GRI Club Infra proposals for private origination of infrastructure projects in Brazil

White paper

NOVO PNL Prioridades para o transporte logístico

www.griclub.org/wp-new-pnl Outubro de 2017

White paper

PERSPECTIVAS PARA A ORIGINAÇÃO DE PROJETOS EM INFRAESTRUTURA

www.griclub.org/wp-origination

Dezembro de 2017

GRI Club Infra proposals in response to the Brazilian electricity sector reform

GRI Club Infra proposals to promote investments in the road sector in Brazil

White paper

REFORMA DO SETOR ELÉTRICO Desafio resolvido?

www.griclub.org/wp-electricity-sector

White paper

RODOVIAS

Desafios e alternativas para fomentar investimentos

Outubro de 2017

www.griclub.org/wp-roads

Dezembro de 2017

GRI Club Infra proposals for private funding for infrastructure in Brazil

White paper

www.griclub.org/wp-private-funding

ALTERNATIVAS DE FINANCIAMENTO PRIVADO EM INFRAESTRUTURA

Dezembro de 2017

JAN • FEB • MAR ■ 2018 // 25

INDUSTRY PERSPECTIVES

Outlook

The expectations of infrastructure players for 2018 RI Magazine has heard from Latin American and Indian infrastructure leaders on what they expect for the industry in the new year:

ANICETO HERTAS, director of Fundamental Risks for Afore Citibanamex â&#x20AC;&#x153;In Mexico there is a high number of market transactions that must be completed during the first half of 2018. The electricity sector is counting on new projects in generation, transmission and distribution. For example,

the Prodesen [National Electric System Development Program] estimates investments of up to $110 billion over the next 15 years. In transportation, we have seen a high degree of secondary transactions in stabilized projects, especially in the road sector. The Mexico-Toluca Interurban Train and the NAICM [New Mexico City International Airport], two of the emblematic projects of the current [federal] administration, show eminent progress and we hope to create investment opportunities for pension funds in the coming years. Citibanamex invests in a significant percentage of the most relevant infrastructure projects. We will continue working to develop teams and processes to proactively participate in the best opportunities together with the best companies and fund managers.â&#x20AC;?

Mario Miranda Filho and promotion photos

some of the most important

Photos composition freepik, pixabay and freeimages

NOÉ REZA GÓMEZ, director of Infrastructure, Energy and Real Estate of HSBC Mexico “During electoral years [as was the case for Mexico in 2018], there aren’t many activities put into action. Yet, in accordance with the present [federal] government program, there should be some momentum, particularly in a few main sectors such as electricity, airports and traditional construction including, for example, highways and hospitals, which will be implemented after the modifications of the APP law [public-private partnership regulation]. In terms of investment, it will not be a totally insignificant period. There have been projects for a quite some time now in the pipeline, close to receiving bids. When they are announced, we will review each one and determine whether or not we are willing to support them.”

JAN • FEB • MAR ■ 2018 // 27

INDUSTRY PERSPECTIVES

OUTLOOK

JOSÉ GUILHERME SOUZA, senior partner and head of Infrastructure Investments of Vinci Partners JEAN PIERRE SARANI TORO, CEO of Investment Banking at Bancolombia Group “2018 will be an important year for Colombia. Due to the presidential elections, there may be some delays in the approvals and adjustments of the concession contracts. However, we expect the 4G projects [the fourth generation of local road concessions] to continue with their financial closures, as their future validity has already been proved. We also believe that law changes that impact public procurement are already under way, and these are necessary to give greater stability to the market in relation to projects such as ‘Ruta del Sol II’. There will be investments in ports to increase installed capacity. At the airports, there are structuring processes of private initiatives for San Andrés, Providencia and Cartagena. The government is analyzing different options for the expansion of El Dorado. There will also be the Bogotá subway, with its first line being 24 kilometers. For Bancolombia Group, we expect a positive year, considering the modification of the infrastructure law [law 1682/2013] and the liquidation of the settlement agreement for ‘Ruta del Sol II’. We will also continue to participate in different financial closings. We want to be present in more projects and continue being one of the leading financial institutions of the 4G Program.”

“Due to the electoral environment in Brazil, its infrastructure sector has already been impacted and is likely to continue to be until the second quarter of 2018, when we will have a better idea of the future scenario. We believe that the electricity sector should witness a boost in investments, followed by the sanitation sector, which has already seen significant progress. In the medium-term, we see positive prospects for substantial infrastructure growth. Therefore, over the next two years, Vinci Partners should double its investments in the sector, from BRL 2 billion to BRL 4 billion, focusing on transmission and generation of electric power, airports and basic sanitation.”

RENATO PROENÇA, executive director of Previ Holdings Division “We are quite optimistic that 2018 will be a year of recovery in Brazil. Economic growth tends to reflect directly and positively on the infrastructure sector. It is likely there will be important opportunities for highways and, possibly, airports, in addition to the energy sector, which will continue being a priority. The challenge will be to obtain funding sources in a different way to the past. The BNDES [Brazilian Development Bank] has been coordinating the search for alternative sources of funding to meet the gap in necessary investment. If the pension funds meet the minimum conditions, they may take part in the increase of infrastructure investments. For Previ, the whole sector continues to be a priority, with a predisposition for investment continuity, less equity and more debt, contributing to the development of projects through long-term financing and the benefit of having remuneration that is compatible with our goals.”

RICARDO ANTÔNIO MELLO CASTANHEIRA, vice president of Institutional Relations for the CCR Group

EDUARDO CENTOLA, managing partner and coCEO of Banco Modal “For 2018, we expect the volatility of the 2017 scenario to continue, given that it will be an election year in Brazil. It remains to be seen whether the major projects of the PPI [Federal Government Investment Partnership Program] will be released. Despite this I believe the economy and appetite of foreign investment will continue growing. I believe that Chinese investors are much less concerned about the impact of short-term volatility. Looking back on 2017, most of the investments announced were brownfield or greenfield, which represents a commitment of investments in 2018 and beyond. There will be a continuity of flow, either by these investments being implemented or through new projects. Banco Modal is very optimistic for 2018. We have partnerships with the most important Chinese companies in the sector, besides being involved as financial advisors and co-investors in strategic projects for the two countries. We expect to soon offer direct futures contracts in commodities and Brazil-China currencies, as well as working on products and structures that allow a direct exchange between BRL-RMB.”

“For 2018, we believe there will be growth for CCR. Infrastructure is the major bottleneck of development. For this reason, we see great opportunities for participation in concessions, PPPs or other forms of partnership, inside and outside Brazil, in a wide range of segments. In Brazil, the government has given signs with new auctions of highways and airports, which are of great interest to CCR. Therefore, having synergy and being suitable to the business models and investments of the company, we will participate in the bidding processes.”

HAMILTON AMADEO, CEO of Aegea Saneamento “Our outlook for 2018 is moderate, due to uncertainty resulting from the electoral process in Brazil. However, we have very positive expectations regarding maintenance of the reform agenda being implemented by the federal government; this should result in the resumption of a good pace of development for the country and in the company’s preparation for the situations that will arise after voting is concluded. Regarding the projects that will come to the market, it will be a lukewarm year. In any case, we highlight the importance of the continuity of PPI initiatives through BNDES and the efforts of Caixa Econômica Federal to support municipalities in PPPs. For Aegea, in 2018 our priority will be to take care of the maturing of the concessions that we operate. We intend to increase our annual investment level by up to 50%, extending service coverage and anticipating contractual goals. Still, we will be attentive to any opportunity that may come to the market.”

JAN • FEB • MAR ■ 2018 // 29

INDUSTRY PERSPECTIVES

OUTLOOK

MARCOS ALMEIDA, managing partner from Brookfield Infrastructure Partners “Brookfield has a long history of infrastructure investments in Brazil. Today, we manage about BRL 60 billion in assets in Brazil, of which BRL 21 billion are in infrastructure. As long-term investors, we continually believe in the great potential of Infrastructure development in Brazil. Our prospects for 2018, therefore, are to continue to apply a large volume of capital in the country.”

REYNALDO PASSANEZI FILHO, president of ISA CTEEP “We are optimistic about next year. In Brazil, the electricity sector is the one that has advanced the most in infrastructure and is in a positive moment of regulatory and institutional transformation, which favors private investment. There are more opportunities for economic agents and a less centralized regulatory apparatus. Particularly in the transmission sector, this positive outlook allowed us to resume the investments in auctions in 2016 and 2017. In 2018, we plan to continue to be active in investments, always with due regard for legal certainty.“

PAWAN KANT, CEO of Tril Roads Private Limited “Looking at India the next couple of years will see increased traction in getting projects off the ground, as well as new projects in new sectors being announced. In the roads sector we have seen lots of projects being awarded on EPC [engineering, procurement and construction], hybrid annuities, and now the TOT [toll-operate-transfer] model is set to be introduced. Railways will be another thrust sector where we will see many projects being awarded. Similarly solutions to the problems plaguing the subdued power sector will need to be introduced to raise the PLF [plant load factor] to a respectable level of efficiency. I also believe that there will be more reforms introduced to address various issues highlighted by the Kelkar Committee [a governmental group to evaluate PPP in India] in December 2015 so as to attract a return in private sector investment. Integrated logistics and warehousing solutions, ports and related waterway infrastructure development and smart cities are other sectors in which I foresee opportunities that should attract investment in order to grow over the coming three years. In line with the overarching strategy to be the leading concessionaires in India’s roads sector, Tril Roads intends to pursue PPP opportunities. We are possibly one of the few platforms able to undertake greenfield project development as well as acquire and integrate operating assets. This is our two-pronged approach. Our focus for the next year is to grow the platform, selecting long duration assets across critical corridors of India, stabilizing the O&M functions as a standard across assets and delivering projects to timelines. We will also be seriously evaluating forthcoming projects on the TOT model.”

shutterstock

YEARBOOK 2017-2018

Who are the executives and companies that are part of the GRI Club Infra

RI Club Infra brings together more than 200 members, including executives (club members) and companies (company members), who actively participate in its activities and work directly for the global development and expansion of the club.

Decisions on the directions of GRI Club Infra are taken by the advisory board, currently composed of 31 members. The club also has a legal advisory board, with nine members, which plays a strategic role in the progress of initiatives that touch on the legal field. Also part of GRI are the club partners and sectoral club partners, companies that play a key role in supporting club activities as members and also sponsoring club activities. Next, get to know who are the members of the club around the world.

Promotion photos

ADVISORY BOARD MEMBERS

ALONSO GARCÍA TAMÉS

ANDRÉS GARCÍA NOVEL

ASHOK AGARWAL

Managing director – Mexico and Latin America CDPQ Capital Mexico

Principal Investment officer International Finance Corporation (IFC)

Director & CEO Essel Infra Projects

AVINASH SULE

BENJAMÍN TORRES-BARRÓN

BERNARDO SERAFIM

Director Qatar Investment Authority

Mining & Infrastructure A ACESSO EXCLUSIVO Practice Group Baker McKenzie MEMBROS DO GRI CLUB Partner – Leader – Energy,

Head for Latin America Development Vinci Concessions

JAN • FEB • MAR ■ 2018 // 31

ADVISORY BOARD MEMBERS

BOON CHIN HAU

BRUNO WERNECK

CASSIO VIANA DE JESUS

Head of Emerging Markets Investments GIC

Partner – Infrastructure Mattos Filho

Head of Alternative Investments Caixa Econômica Federal

CÉSAR AUGUSTO RAMÍREZ ROJAS

CHERYL HANWAY

DÊNIO CIDREIRA

Head of Infrastructure Investments – Brazil International Finance Corporation (IFC)

President Itaipava Arena Fonte Nova

GERARDO CORROCHANO

GUILHERME CAIXETA

Vice president – Energy Transmission ISA

EDUARDO RAMOS CEO CKD IM

HAMILTON AMADEO CEO Aegea Saneamento

Country director – Mexico and Colombia The World Bank

JEAN PIERRE SERANI

TORO ACESSO EXCLUSIVO A CEO – Investment MEMBROS DO Banking GRI CLUB

Vice president – Infrastructure GIC

JULIO FONTANA NETO CEO Rumo

Grupo Bancolombia

LEONARDO VIANNA

MARCOS ALMEIDA

MARIO BUDEBO

President CCR Mobilidade

Managing partner Brookfield Infrastructure Partners

General director MIP - EXI CKD

MAURICIO OSSA ECHEVERRI

MIGUEL TOLEDO

RAJIV AGARWAL

Chief Investment officer International Finance Corporation (IFC)

CEO and managing director Essar Ports Limited (EPL)

President – CEO Odinsa

RENATO SUCUPIRA

RICARDO SZLEJF

SAURABH AGARWAL

President BF Capital

Senior principal – Infrastructure CPPIB

Regional director – Infrastructure CDPQ India

SERGIO RAMIREZ LOMELIN

SYLVIA COUTINHO

VICENTE GIORGIO

CEO – UBS Group Brazil UBS

CEO AES Gener

Country director – Mexico Acciona Construcción Mexico

LEGAL BOARD MEMBERS

ANA CÂNDIDA DE MELLO CARVALHO

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

ANDRÉ DABUS

BRUNO WERNECK

Partner – Infrastructure Tozzini Freire Advogados

Director of Infrastructure, Power & Utilities Marsh Brasil

Partner – Infrastructure Mattos Filho

MAURO PENTEADO

MIRIAM SIGNOR

RICARDO RUSSO

Partner – Infrastructure & Project Finance Machado Meyer Advogados

Partner – Infrastructure Stocche Forbes Advogados

Partner Pinheiro Neto Advogados

ROBERTO LIMA

ROBERTO MARTINS

ROSANE MENEZES LOHBAUER

Partner – Infrastructure Souza Cescon Advogados

Partner – Head of Energy, Mining and Infrastructure – Latam Trench, Rossi e Watanabe

Founding partner Madrona Advogados

JAN • FEB • MAR ■ 2018 // 33

CLUB PARTNER

CCR Group is one of Latin America’s largest infrastructure concession groups. It controls 3,265 kilometers of highways in Brazil. It’s also present in the urban mobility segment, in the airport sector managing airports in Brazil and Latin America and as a US company that renders airport services. It also operates as a high-capacity data transmission company. CCR is signatory to the UN’s Global Compact and has been included in the theoretical portfolio of the BM&FBovespa’s ISE for the sixth consecutive year.

RENATO ALVES VALE

LEONARDO VIANNA

RICARDO BISORDI

President

President, CCR Mobilidade

CEO, CCR Airports

JOSÉ BRAZ CIOFFI

ITALO ROPPA

Vice president of Business Management

WWW.GRUPOCCR.COM.BR

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

SECTORAL CLUB PARTNERS

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the energy and fourth industrial revolutions. ABB operates in more than 100 countries with about 135,000 employees.

RAFAEL PANIAGUA CEO

ALBERTO DIAS

SERGIO COSTA

ABB Brazil Business Development, Account Management & Government Affairs vice president

Business Development director

WWW.ABB.COM

MARCOS GANUT

MARCELO GOMES

Managing director

CARLOS ALBERTO PRIOLLI

As a global leader, Alvarez & Marsal is noted for its performance enhancement, restructuring and business consultancy services, which focus on boosting growth and accelerating results for clients. A&M has extensive experience in the infrastructure area and has delivered various management, restructuring and asset valuation projects for highway, port, energy and telecom ventures. A&M believes Brazil is a market that presents a range of opportunities that will help expand its service portfolio. It has therefore created the Capital Projects & Infrastructure (CP&I) department, staffed with consultants trained to offer clients a multidisciplinary approach analyzing a wide range of issues, including, strategy, finance, capital structure, tax, licensing, management and construction support, dispute resolution and asset development. A&M provides potential investors with support during the privatization process and is a one-stop-shop capable of validating underlying value-generating processes.

ACESSO EXCLUSIVO A LUIS DE LUCIO MEMBROS DO GRI CLUB Managing director

Managing director

WWW.ALVAREZANDMARSAL.COM

Trench Rossi Watanabe

BENJAMÍN TORRESBARRÓN

Partner - Latam Head of Energy, Mining, and Infrastructure

Partner – Mexico head of Energy, Mining & Infrastructure Group

ALEJANDRO MESA

ANTONIO ORTÚZAR JR

Baker McKenzie is recognized worldwide for its bestin-class client service, practices and for carrying out the most deals year-after-year through its unmatched global platform across 77 offices and 47 emerging and developed countries. Companies based in or with operations in Latin America, routinely rely on its leading cross-border and Latin America energy, mining & infrastructure attorneys for their most important transactional and disputes matters. As the largest law firm in Latin America with over 850 attorneys, it offers clients 60+ years of on-theground presence in the region, unique coverage in Latin America across its 15 offices and 7 countries*, and from major finance centers globally.

Partner - Colombia head of Energy, Mining & Infrastructure Group

Partner - Chile head of Energy, Mining & Infrastructure Group

*Through a cooperation agreement with Trench Rossi Watanabe, a Brazilian law firm

JOSÉ ROBERTO MARTINS

WWW.BAKERMCKENZIE.COM

JAN • FEB • MAR ■ 2018 // 35

SECTORAL CLUB PARTNERS

Deloitte is one of the world’s leading firms, delivering outstanding management, consulting and advisory services in 154 countries, to more than one-half of the largest companies listed in Fortune Global 500, as well as public enterprises and institutions, locally important clients and fast-growing multinational companies. Deloitte is committed to driving economic growth and supporting a sustainable society. Using the Deloitte Network’s insights to handling challenges and opportunities is the gateway to achieving individual growth, business success and to creating a prosperous society. Deloitte has an infrastructure and capital projects team that provides a wide range of services throughout the asset lifecycle, combining global best practices from their experience on the world’s largest and most complex projects to help clients to maximize the value of their investment. Deloitte advises public and private sector projects commissioners, as well as both sides of a public-private partnership.

EDUARDO DE OLIVEIRA Partner – Lead of Corporate Finance

ELIAS DE SOUZA Infrastructure & Public Sector director

WWW.DELOITTE.COM

MIRIAM SIGNOR

GUILHERME FORBES

Partner

PAULO PADIS Partner

Stocche Forbes is formed by attorneys with extensive experience advising Brazilian and foreign entities doing business in all economic sectors in Brazil. Its teams are equipped to handle the most complex and sophisticated legal issues impacting its clients’ activities. Expertise on structuring, development and financing of projects. The firm has participated in project finance transactions involving structured financing and domestic transactions. It also has a strong track record in project development, covering corporate structuring. Stocche Forbes strives to form long term strategic relationships with its clients, forged on the trust that the firm will provide services at the highest standards of efficiency, responsiveness, quality and ethics, proactively seeking to identify and understand the issues that are relevant to its clients’ business, and offering creative and practical solutions.

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

STOCCHEFORBES.COM.BR

COMPANY MEMBERS

Acciona is a leader in providing sustainable solutions for infrastructure and renewable energy projects across the world. Its offer covers the whole value chain, from design and construction to operation and maintenance. With a presence in more than 30 countries, the group develops its business activities based on the desire to contribute to economic and social development in the communities in which it operates.

FLAVIO SARAIVA Country director

WWW.ACCIONA.COM.BR

Aegea manages sanitation assets through its dealerships in several states of the country. The company acts as manager of public concessions operating in all processes of the full cycle of water – supply, collection and sewage treatment. Currently, Aegea is represented in ten Brazilian states and supplies more than 5 million people in 48 municipalities. Among its shareholders are Grupo Equipav, GIC, IFC and IFC Asset Management Company.

HAMILTON AMADEO CEO

WWW.AEGEA.COM.BR

ACESSO EXCLUSIVO A The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) works to promote Brazilian products MEMBROS DO GRI CLUB and services abroad and to attract foreign investment to strategic sectors of the Brazilian economy. ApexBrasil organizes several initiatives aiming to promote Brazilian exports abroad.

MARIA LUISA CRAVO WITTENBERG Executive manager – Investment Promotion

WWW.APEXBRASIL.COM.BR

Basf creates chemistry for a sustainable future. The company combines economic success with environmental protection and social responsibility.

GISELA PINHEIRO Vice president

WWW.BASF.COM JAN • FEB • MAR ■ 2018 // 37

COMPANY MEMBERS

BF Capital is an independent financial adviser on structured finance and it is one of the main project finance structuring consultants for large-scale Infrastructure projects in Brazil. BF Capital works throughout the entire operation of structuring cycle with tailor-made financial solutions according to the needs of each sector and business. BF Capital assessed more than 169 projects, structuring BRL 15 billion, implemented 85 EOIs and 45 bidding processes in the last 5 years.

RENATO SUCUPIRA President

WWW.BFCAPITAL.COM.BR

EDUARDO CARVALHAES NETO Partner – Infrastructure

Founded in the 1990s, when Brazil was undergoing structural changes, Barbosa Müssnich Aragão was inspired by a mission to find innovative solutions that are legally viable and sustainable in an environment of rapid development, new regulatory frameworks and new business models in almost all sectors of the economy. BMA has been present in most of the major M&A transactions in Brazil over the last two decades, participating in the creation of corporate groups that do business around the world.

WWW.BMALAW.COM.BR

ACESSO EXCLUSIVO A Holding company of equity stakes in businesses and structured projects in infrastructure sector, MEMBROS DO GRI CLUB particularly dedicated to solutions for sustainable cities MIGUEL NORONHA Managing director

(efficient sanitation and public lighting systems). The company highlights governance and management as primary sources of value creation in its business and also leverages an articulated framework to execution of new investments. It currently holds equity position in sub-holdings and 7 companies of diverse business niches in infrastructure.

WWW.BMPI.COM.BR

ERNESTO MEYER Managing director – Head of Financial Sponsors Coverage

WWW.BNPPARIBAS.COM.BR

BRK Ambiental is the largest private Brazilian company in the area of environmental solutions. Through the control of its assets, the company can guarantee more assertive decision-making, applying best governance practices in all of its segments. This allows BRK Ambiental to ensure that the processes and systems are the same for all of its operations, guaranteeing operational gains and more accurate quality control.

TERESA VERNAGLIA CEO

WWW.BRKAMBIENTAL.COM.BR

Celg GT is a concessionaire of public service of generation and electricity transmission, with currently 12 substations at 230 kV and 2 small hydroelectric plants (PCH). Currently, the transformation capacity of the Celg GT is approximately 2712 MVA and it is estimated to increase this capacity up until 4420 MVA up 2018. It’s a relative increase of 63% in only 2 years.

AUGUSTO SILVA Technical and commercial director

WWW.CELGGT.COM

ACESSO EXCLUSIVO A China Gezhouba Group Company (CGGC) is part of the giant state-owned China Energy Engineering MEMBROS DO GRI CLUB Corporation (Ceec). CGGC’s main business is investment and infrastructure construction. The company arrived in Brazil in 2013 and established CGGC Construtora do Brasil in São Paulo, responsible for all business in Brazil.

LUCAS FAN General director

WWW.CGGC.CC

The Climate Bonds Initiative is an international, investor-focused not-for-profit and the only organisation in the world working to mobilize $80 trillion bond market for climate change solutions. Supported by a 50-member advisory panel, the initiative has an international stakeholder base among institutional investors, NGOs and the finance sector.

THATYANNE GASPAROTTO Country manager – Brazil

WWW.CLIMATEBONDS.NET JAN • FEB • MAR ■ 2018 // 39

COMPANY MEMBERS

The history of Concremat is intertwined with the history of the industrialization and urban development of Brazil. The company has been present in some of the most important Brazilian infrastructure construction projects. Concremat turns 65 years old as one of the main engineering companies in Brazil and now becomes part of China Communications Construction Company. In 2017 and 2016, Concremat was ranked #1 in Projects and Consultancy (500 Largest Construction & Engineering Companies in Brazil).

MAURO RIBEIRO VIEGAS NETO Executive president

WWW.CONCREMAT.COM.BR

Construtora Camargo Corrêa structures and executes projects in the sectors of energy, oil and gas, infrastructure and industrial construction in Brazil and Latin America, integrating principles of sustainability and innovation. Construtora Camargo Corrêa, in its 77-year history, has participated in more than 500 projects, helping the company being the preferred choice of strategic clients in Brazil and abroad.

DÉCIO AMARAL Chairman and CEO

CONSTRUTORACAMARGOCORREA.COM.BR

ACESSO EXCLUSIVO A Eletrobras is leader in electric power generation and transmission in Brazil and contributes to making the MEMBROS DO GRI CLUB Brazilian energymatrix one of the cleanest and most renewable in the world. The company also operates in the segments of commercialization, distribution and energy efficiency, as well as programs such as Procel, Luz para Todos (Light for All) and Proinfa.

WILSON FERREIRA JR. CEO

ELETROBRAS.COM

GS Inima Brasil acts as a construction company and holding company, structured to ensure the operational continuity and performance of the controlled concessionary companies, as well as to compete in, get awarded and establish new concessions and PPPs.

PAULO ROBERTO DE OLIVEIRA President

WWW.GSINIMABRASIL.COM.BR

Iguá Saneamento operates in the management and operation of water supply and sewage systems, as well as in the management of customers of these services. Currently, the company is present in five Brazilian states (São Paulo, Mato Grosso, Paraná, Santa Catarina and Alagoas), through 18 operations, which, together, serve, directly or indirectly, about 6.3 million people.

GUSTAVO GUIMARÃES CEO

WWW.IGUASANEAMENTO.COM.BR

LUIZ FERNANDO LEONE VIANNA

Itaipu is the entity that operates the Itaipu Power Plant, which, with an installed capacity of 14,000 MW, currently accounts for about 17% of electricity supply in Brazil and 76% in Paraguay. The plant holds world records of annual energy production for 2008, 2012, 2013 and 2016, the year in which it was the first hydroelectric in history to overcome the symbolic barrier of 100 million MWh.

General director and ONS advisor

WWW.ITAIPU.GOV.BR

ACESSO EXCLUSIVO A John Deere is a global leader for agricultural and forestry machines production and also a major MEMBROS DO GRI CLUB manufacturer of heavy equipments for construction ROBERTO TORRES MARQUES Brazil C&F Sales director

and mining. Due to the company’s vision of the future based on innovation, John Deere invests millions of dollars per day in research and development. Recently, the company launched its parts distribution center and two construction factories. These and other actions show the commitment to the Brazilian agriculture and infraestructure sectors.

WWW.DEERE.COM.BR

MAURO PENTEADO Partner – Infrastructure & Project Finance

Machado Meyer Advogados has been building its history for 45 years, inspired by sound ethical principles, the technical skills of its professionals, and a close relation with its clients. It is ranked as one of the major law firms in Brazil, with over 700 professionals. Its focus: business. The firm provides innovative legal solutions that anticipate scenarios and make business possible. In other words, it works to offer intelligent legal solutions that contribute to the business growth of its clients and transform realities.

WWW.MACHADOMEYER.COM.BR JAN • FEB • MAR ■ 2018 // 41

COMPANY MEMBERS

Magna gives technical assistance to companies and organizations in strategic planning for their business and projects, through consistant studies and analysis, designing targets and process of revising paths, to assure long range and sustainable results. Its experience comes from the professional career of its founder and owner, Marcelo Perrupato that, as a civil engineer and MSc by Stanford Un., acted in private and public sectors.

MARCELO PERRUPATO Partner/ owner

Mattos Filho is a market leader for legal services in Brazil. The firm provides clients with top-notch services in various areas in a coordinated and integrated manner. It allocates the best available resources to meet clients’ specific demands, working in multidisciplinary teams whenever necessary. This work dynamic allows the firm to deliver tailor-made solutions to clients and enhance its understanding of their businesses.

BRUNO WERNECK Partner – Infrastructure

WWW.MATTOSFILHO.COM.BR

ACESSO EXCLUSIVO A In business for over 29 years, Patria is one of the largest alternative investments manager focused on Latam MEMBROS DO GRI CLUB assets, specially in Brazil. It is a pioneer in private FELIPE PINTO

equity in Brazil, gradually building up its portfolio with the creation of new businesses in infrastructure, real estate, credit, agribusiness and Pipe. Blackstone, a leader in alternative investments management, has been a major partner of Patria since 2010.

Partner – Infrastructure Group

WWW.PATRIA.COM

MARCELO LEITE MARDER

Pattac Empreendimentos e Participações is a holding company which was first developed to manage the business of the Marder family. It concentrates most of its investments on infrastructure, highway concession, ports, park management, entertainment assets, renewable energy production and logistics. With five decades of experience, the family has consolidated its entrepreneurial principles based on the tripod: creativity, responsibility and governance.

Director

WWW.PATTAC.COM.BR

LETÍCIA QUEIROZ Partner

Queiroz Maluf Sociedade de Advogados is a law firm specialized in administrative and regulatory law, with broad experience in public biddings, concessions, public-private partnerships, procedures of expression of interest, public procurement, recomposition of economic-financial balance, regulation, arbitration and court litigation, and project structuring in several areas connected to logistics and infrastructure, such as highways, ports, airports, railways, sanitation and urban mobility.

WWW.QUEIROZMALUF.COM.BR

ROBERTO LIMA

Souza Cescon is one of Brazil’s leading law firms. Its lawyers stand out for their strong commitment to the representation of its clients’ interests and for their work in highly sophisticated, groundbreaking matters. Its goal is to be its clients’ law firm of choice for their most complex legal matters and most strategic transactions and disputes. It offers high level advice in all matters that it handles, including infrastructure projects across all its sectors.

Partner – Infrastructure

WWW.SOUZACESCON.COM.BR

ACESSO EXCLUSIVO A Consultancy firm with 12 years of experience and distinguished performance in transport infrastructure, MEMBROS DO GRI CLUB offering a broad range of services (strategy, market, MARCOS PINTO

financial, engineering and regulatory) in several sectors (ports & navigation, airports, road & railways, shipbuilding, urban mobility and water & sewage). With a team of 30 engineers and economists graduated in the best schools, Terrafirma has developed about 250 projects for over a hundred clients.

Founder partner

WWW.TERRAF.COM.BR

ANA CÂNDIDA DE MELLO CARVALHO

Since 1976, TozziniFreire has distinguished itself as a premier, full-service law firm by consistently providing legal services to companies in a wide variety of business sectors. The infrastructure team is a multidisciplinary group of lawyers with a unique and comprehensive understanding of the sector, prepared to assist clients with diverse needs. It has worked on highly complex projects and on the development of innovative structures that have become a standard in the Brazilian legal market.

Partner – Infrastructure

TOZZINIFREIRE.COM.BR JAN • FEB • MAR ■ 2018 // 43

COMPANY MEMBERS

UBS is committed to providing private, institutional and corporate clients worldwide, as well as retail clients in Switzerland, with superior financial advice and solutions. Its strategy centers on its Wealth Management and Wealth Management Americas businesses and its leading universal bank in Switzerland, complemented by its Asset Management business and its Investment Bank.

SYLVIA COUTINHO CEO – UBS Group Brazil

WWW.UBS.COM

CLUB MEMBERS

AGOSTINHO SERAFIM JUNIOR

ALBERTO DIAS

President Construtora Queiroz Galvão Construction company

ABB Brazil Business Development, Account Management & Government Affairs vice president ABB Brazil

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

Technology and inovation

ALBERTO RODRIGUEZ Country director – Peru, Chile, Ecuador, Venezuela and Bolivia The World Bank

ALEX GREENBAUM Senior vice president GIC Sovereign wealth fund

Multilateral bank

ALEXANDRE MALUCELLI CEO Grupo JMalucelli

ALONSO GARCÍA TAMÉS Managing director – Mexico and Latin America CDPQ Capital Mexico

Pension fund

ANA CÂNDIDA DE MELLO CARVALHO

ANA CAROLINA BARRETTO

Partner – Infrastructure Tozzini Freire Advogados

Partner Veirano Advogados

Full-service law firm

Law firm

ANDRÉ ABUCHAM

ANDRE CLARK

Director Engeform

CEO Brazil Siemens

Engineering and construction

Investor and technology supplier

ANDRÉ DABUS

ANDRÉ MIARI

Director of Infrastructure, Power & Utilities Marsh Brasil

Finance director Torc

Insurance broking and risk management

Roads

ANDRÉ PENTAGNA GUIMARÃES SALAZAR President Grupo Aterpa Heavy construction

ANDRÉ VELLEDA President Moraes Velleda

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

ANDRÉS GARCÍA NOVEL

Risk management

ANICETO HUERTAS

Principal Investment officer International Finance Corporation (IFC)

Director – Fundamental Risks Afore Banamex

Financial investor and lender

Pension fund

ANTONIO CLARET DE OLIVEIRA

ANTÔNIO KELSON

President Infraero

President SA Paulista

Airport operator

Engineering and construction

JAN • FEB • MAR ■ 2018 // 45

ASHOK AGARWAL

AUGUSTO SILVA

Director and CEO Essel Infra Projects

Technical and commercial director Celg GT

Energy and transport operator

Utility of generation and transmission

AVINASH SULE

BENJAMÍN TORRES-BARRÓN

Director Qatar Investment Authority

Partner – Leader – Energy, Mining & Infrastructure Practice Group Baker McKenzie

Sovereign wealth fund Law firm

BERNARDO SERAFIM

BOON CHIN HAU

Head for Latin America Development Vinci Concessions

Head of Emerging Markets Investments GIC

Infrastructure holding

Sovereign wealth fund

BRUNO BRITTO President BC2 Construtora Engineering and construction

BRUNO SENA

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

BRUNO WERNECK

Infrastructure holding

CARLOS BARRERA

Partner – Infrastructure Mattos Filho

CEO Atlas Renewable Energy

Projects and M&A

Renewable energy

CARLOS JOSÉ SOUZA

CEO BMPI

CARLOS LOYOLA

President – Brazil and Latin America Andrade Gutierrez

President Cesbe

Construction and concessions holding

Engineering and construction

CARLOS REDONDO RINCÓN

CASEMIRO TERCIO CARVALHO

General director Roadis Mexico

Partner – Infrastructure Garín Investimentos

Highway management

Asset management

CASSIO VIANA DE JESUS

CELSO PEDROSO

Head of Alternative Investments Caixa Econômica Federal

CEO – Solví Soluções Industriais Grupo Solví

Private equity

Public waste, industrial solutions and sanitation

CÉSAR AUGUSTO RAMÍREZ ROJAS

CÉSAR BORGES

Vice president – Energy Transmission ISA

Executive president Associação Brasileira de Concessionárias de Rodovias (ABCR)

Electric power transmission Association

CÉSAR CAÑEDO-ARGUELLES

CHERYL HANWAY

CEO Corporación Interamericana para el Financiamiento de Infraestructura (Cifi)

Head of Infrastructure Investments – Brazil International Finance Corporation (IFC)

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

Financial investor and lender

Financial institution

CRISTINA PARDO DE VERA

DANIEL LIMA Chief Investment officer Fundação Petrobras de Seguridade Social (Petros)

CEO R&Q Concesiones e Infraestructura Project and investment promotion

Pension fund

DANIEL RIZZOTTI DE OLIVEIRA

DAVI CADE

Executive Business Development Carioca Engenharia

Partner Conext Partners

Engineering and construction

Financial advisor

JAN • FEB • MAR ■ 2018 // 47

DAVID SIGISMONDI

DÉCIO AMARAL

Commercial director Nordex Acciona Windpower

Chairman and CEO Construtora Camargo Corrêa

Wind turbine production

Construction and investment

DÊNIO CIDREIRA

DETLEF DRALLE

President Itaipava Arena Fonte Nova

President HTB

Social infrastructure operator

Engineering and construction

DIEGO CANALES

DIEGO INVERNIZZI

Assistant vice president GIC

Business Development manager Latam Ingener

Sovereign wealth fund

EPC contractor – Energy and industry

DUARTE BRAGA

EDNILSON ARTIOLI

CFO Empresa Construtora Brasil

Director Grupo Estrutural

Infrastruture holding

Engineering and construction

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

EDSON OGAWA Managing director – Head of Project Finance Banco Santander

EDUARD PUJOL Partner and managing director The Boston Consulting Group (BCG) Consulting firm

Investment bank

EDUARDO CARVALHAES NETO

EDUARDO CENTOLA

Partner – Infrastructure BMA Advogados

Managing partner and co-CEO Banco Modal

Law firm

Investment banking

EDUARDO DE OLIVEIRA

EDUARDO RAMOS

Partner Deloitte

CEO CKD IM

Consulting firm

Fund manager

EDUARDO TAKAHASHI

ELBSON QUADROS

Corporate director – Brazil AON Brasil

Vice president – Latin America Sita

Insurance consulting

IT and communications

ERIK BREYER

ERNESTO MEYER CEO Invepar

Managing director – Head of Financial Sponsors Coverage BNP Paribas

Concessions holding Investment bank

FÁBIO LERRER

FEDERICO LAGRECA

Director – Business Development CPFL Energia

Commercial director Suez

Power energy sector holding

Operator

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

FELIPE LIMA

FELIPE PINTO CEO – Latin America Arcadis

Partner – Infrastructure Group Patria Investimentos

Design and consultancy

Private equity fund

FELIPE VINAGRE Vice president – Head of Infrastructure, Transportation & Capital Goods – Equity Research Latin America Credit Suisse

FELIPPE DO PRADO PADOVANI Superintendent director OAS Investimentos Construction and Infrastructure investor

Investment banking

JAN • FEB • MAR ■ 2018 // 49

FERNANDO CAMARGO

FERNANDO KREMPEL

Partner-director – Finance and Investments LCA Consultores

CEO Intertechne Engineering and consulting

Financial services

FERNANDO LLAVER

FERNANDO SCHUFFNER

CFO Distrocuyo

Commercial director Prumo Logística

Energy transmission

Infrastructure holding

FLAVIO SARAIVA

FRANCISCO CHICA PADILLA

Country director Acciona Construcción Brasil

Executive director Celeo Redes

Infrastructure

Infrastructure holding

FRANCISCO IBÁÑEZ

FREDERICO ESTRELLA

Partner – Leader – Capital and Infrastructure Projects PwC México

Investment and Business director Tendências Consultoria

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

Consulting

Consulting firm

GERARDO CORROCHANO Country director – Mexico and Colombia The World Bank

Regional director – Latin America Steer Davies Gleave

Multilateral bank

Consulting

GISELA PINHEIRO

GERMÁN LLERAS

GUILHERME CAIXETA

Vice president Basf

Vice president – Infrastructure GIC

Construction materials

Sovereign wealth fund

GUILHERME ESMANHOTO

GUILHERME GERDAU JOHANNPETER

Director ALG Brasil

Executive vice president Gerdau

Strategic consulting

Steel

GUSTAVO GUIMARÃES

GUSTAVO LOBATO

CEO Iguá Saneamento

Executive manager GEL Engenharia

Sanitation holding

Engineering and construction

HAMILTON AMADEO

HARALD ZWETKOFF

CEO Aegea Saneamento

President ViaQuatro

Sanitation asset management

Metro concession

HENRIQUE RZEZINSKI

HUGO ALBUQUERQUE

Institutional Relations director Eneva Energy

Director and general manager – Sales – South and Central America Canadian Solar Brazil

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

Renewable energy

HUGO NERY

HUMBERTO FARIAS President Marquise Ambiental

CEO Âmbar Energia

Sanitation and waste management

Energy holding

ISSAM ABOUSLEIMAN

JAYANT MHAISKAR

Country manager – Colombia The World Bank

Vice chairman and managing director MEP Infrastructure Developers

Multilateral bank

Road operator and developer

JAN • FEB • MAR ■ 2018 // 51

JEAN PIERRE SERANI TORO

JEAN-EMMANUEL SEIXAS

CEO – Investment Banking Grupo Bancolombia

President Egis Brasil

Investment bank

Engineering and consulting

JESKO HENTSCHEL

JOSÉ GUILHERME SOUZA

Country director, Argentina, Paraguay and Uruguay The World Bank

Senior partner – Head of Infrastructure Investments Vinci Partners

Multilateral bank

Investor

JUAN PIAZZA

JULIO FONTANA NETO Executive director JGP Gestão Ambiental

CEO Rumo

Social and environmental consulting

Rail operator

JULIO ZOGBI

KIRAN GRANDHI CIO Monte Equity Partners Private equity fund

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

LAURO NETO

Infrastructure holding company

LEONARDO VIANNA COO Institutos Lactec

President CCR Mobilidade

Science and technology center

Infrastructure concession group

LETÍCIA QUEIROZ

Corporate chairman GMR Group

LUCAS FAN

Partner Queiroz Maluf Advogados

General director CGGC Brasil

Law firm

Construction and infrastructure investor

LUIZ CIOCCHI

LUIZ FERNANDO LEONE VIANNA CEO Emae

General director and ONS advisor Itaipu Binacional

Energy

Energy generation

LYGIA MURIEL

MARCELO GIRÃO

Director – Infrastructure, Energy, M&A JLT Group

Head of Project Finance Itaú BBA

Insurance

Investment banking

MARCELO LEITE MARDER

MARCELO PERRUPATO

Director Pattac Empreendimentos e Participações

Partner/ owner Magna Planejamento

Infrastructure holding

Concessions and PPPs

MÁRCIO LUTTERBACH

MARCIO TRANNIN

Partner – Corporate Finance & Recovery PwC

President Enel Soluções Brasil

Consulting

Energy solutions

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

MARCO DE CARVALHO

MARCOS ALMEIDA

CEO Barclays Brazil – Head of M&A Latam Barclays

Managing partner Brookfield Infrastructure Partners

Investment banking

Investor

MARCOS DINIZ

MARCOS GANUT

Director Terracom

Managing director Alvarez & Marsal

Investment and engineering

Consulting

JAN • FEB • MAR ■ 2018 // 53

MARCOS MEIRELES

MARCOS PEPE BERTONI

CEO Rio Energy

Operations & Logistics director Corredor Logística e Infraestrutura

Renewable energy platform

Port terminal and logistic operator

MARCOS PINTO

MARIA LUISA CRAVO WITTENBERG

Founder partner Terrafirma Consultoria

Executive manager – Investment Promotion Apex-Brasil

Strategic consulting Investment promotion

MARIO BUDEBO

MARTIN RAISER

General director MIP - EXI CKD

Country director – Brazil The World Bank

Fund manager

Multilateral bank

MATTHIEU CHABANNE

MAURICIO ENDO

Head of Marketing and Strategy for Americas Crédit Agricole

Partner – Government & Infrastructure leader – Latam KPMG

Corporate and investment bank

Consulting – Infrastructure

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

MAURICIO OSSA ECHEVERRI President – CEO Odinsa

Partner – Infrastructure & Project Finance Machado Meyer Advogados

Infrastructure holding

Law firm

MAURO RIBEIRO VIEGAS NETO

MAURO PENTEADO

MIGUEL NORONHA

Executive president Concremat

Managing director BMPI

Construction

Infrastructure holding

MIGUEL TOLEDO

MIRIAM SIGNOR

Chief Investment officer International Finance Corporation (IFC)

Partner – Infrastructure Stocche Forbes Advogados

Financial investor and lender

Law firm

PATRIC LANGE

NOÉ REZA GÓMEZ Director – Infrastructure, Energy & Real Estate HSBC Mexico

Project Finance director – Infrastructure Daemon Investimentos Financial advisor

Bank lender

PAULO ANDRÉ

PAULO ROBERTO DE OLIVEIRA

South America head of Business Roadis Brasil

President GS Inima Brasil

Road investor and operator

Sanitation holding

PAULO WERNECK Director – Investments Funcef Pension fund

PAWAN KANT CEO – Roads TRIL Roads Pvt Ltd

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

PEDRO FIORELLI

Roads operator and investor

PRATIK AGARWAL

Head of Institutional Relations BRK Ambiental

CEO Sterlite Power

Water asset management

Transmission energy investor

PUSHKAR KULKARNI

RAFAEL TREJO

Principal – Infrastructure CPPIB

Director – Credit and Structured Products Afore XXI Banorte

Pension fund

JAN • FEB • MAR ■ 2018 // 55

RAJIV AGARWAL

RENATO MEIRELLES

CEO and managing director Essar Ports Limited (EPL)

President CAF Brasil

Port operator

Investor and manufacturer

RENATO PROENÇA

RENATO SUCUPIRA

Executive director – Holdings Division Previ

President BF Capital

Pension fund

Financial advisor

RENATO VALE

REYNALDO PASSANEZI FILHO

CEO Grupo CCR

President ISA CTEEP

Infrastructure holding company

Energy transmission

RICARDO RUSSO

RICARDO SZLEJF

Partner Pinheiro Neto Advogados

Senior principal – Infrastructure CPPIB

Law firm

Infrastructure investor

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

ROBERT KLEIN

ROBERTA BASSEGIO

CEO Voltalia do Brasil

Managing partner Paul Hastings

Renewable energy

Law firm

ROBERTO LIMA Partner – Infrastructure Souza Cescon Advogados

ROBERTO MARTINS Partner – Head of Energy, Mining and Infrastructure – Latam Trench, Rossi e Watanabe

Law firm Energy and infrastructure

ROBERTO TORRES MARQUES

RODOLFO PINTO

Brazil C&F Sales director John Deere

President Seta Engenharia

Equipment manufacturer

Engineering and construction

RODRIGO PEDROSO

ROGÉRIO TAVARES

CEO Total Energia

Vice president – Institutional Relations Aegea Saneamento

Power generator

Sanitation asset management

ROSANE MENEZES LOHBAUER

RUBENS CARDOSO

Founding partner Madrona Advogados

Executive director Lyon Capital

Infrastructure and regulatory issues

Investment

RUI GOMES DA SILVA JUNIOR

SABINA CHÁVEZ ATKINSON

Head of Project Finance Bradesco BBI Investment banking

Head of Investment Strategy for Credit, Alternatives and Segregated Accounts Afore Sura

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

Pension fund

SAURABH AGARWAL

SEIICHI FUKUI

Regional director – Infrastructure CDPQ India

Managing director Mitsubishi Corporation do Brasil

Pension fund and investor

Development, investment and trading

SERGIO MACEDO FACCHINI

SÉRGIO PEDREIRO

Chairman of the board Planova Planejamento e Construções

CEO Estre Ambiental

Infrastructure holding

Sanitation and waste

JAN • FEB • MAR ■ 2018 // 57

SERGIO RAMIREZ LOMELIN

SYLVIA COUTINHO

Country director – Mexico Acciona Construcción Mexico

CEO – UBS Group Brazil UBS

Construction and infrastructure Investment

Investment banking

TERESA VERNAGLIA

THATYANNE GASPAROTTO

CEO BRK Ambiental

Country manager – Brazil Climate Bonds Initiative (CBI)

Water asset management

Green bonds, capital markets

THIAGO SILVA

THOMAS BRULL

Senior principal – Infrastructure – Latin America (Brazil, Colombia, Peru) Ontario Teacher’s Pension Plan (OTPP)

Audit, Risks and Finance committee member Aegea Saneamento

Pension fund

Sanitation asset management

VICENTE GIORGIO CEO AES Gener Energy generation

VICTOR LOUREIRO ARAÚJO

ACESSO EXCLUSIVO A MEMBROS DO GRI CLUB

VIKRAM KAPUR

WILSON FERREIRA JR. CEO Eletrobras

Consultancy firm

Energy

Senior vice president – Head of Brazil office – Head Direct Investment Group Latin America GIC Sovereign wealth fund

Railway solutions

Partner McKinsey & Company

WOLFGANG SCHWERDTLE

Managing director – South America Harsco Rail

GRI CLUB INFRASTRUCTURE CALENDAR 2018 - ANNUAL CONFERENCES

INFRA LATIN AMERICA GRI 2018

GRI PPPS AND CONCESSIONS IN MUNICIPALITIES 2018

INFRASTRUCTURE SUMMIT 2018

GRI CHINA-LATAM

May 17th and 18th | New York, USA

June 21st | Sao Paulo, Brazil

August 1st | Beijing, China

INFRA INDIA GRI 2018

INFRA MEXICO GRI 2018

INFRA BRAZIL GRI 2018

September 12th and 13th | Mumbai, India

September 19th and 20th | Mexico City, Mexico

December 5th and 6th | Sao Paulo, Brazil

For further information:

info@griclub.org | +55 11 2888-2311 |

www.griclub.org

JAN • FEB • MAR ■ 2018 // 59

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S E C TO R A L C LU B PA R T N E R S