SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of March, 2021
Commission File Number 1-34129
CENTRAIS ELÉTRICAS BRASILEIRAS S.A.
- ELETROBRÁS
(Exact name of registrant as specified in its
charter)
BRAZILIAN ELECTRIC POWER COMPANY
(Translation of Registrant's name into English)
Rua da Quitanda, 196 – 24th floor,
Centro, CEP 20091-005,
Rio de Janeiro, RJ, Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
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1
CA/CAAS
Rua da Quitanda, No. 196, 25th floor.
22210-030 Rio de Janeiro - RJ
Excerpt of RCA 885, dated March 19, 2020.
DEL-026/2021.
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CERTIFICATE OF MINUTES OF THE EIGHT HUNDRED AND EIGHTY-FIFTH BOARD OF DIRECTORS’ MEETING OF CENTRAIS ELÉTRICAS
BRASILEIRAS S.A. – ELETROBRAS
NIRE 53300000859/CNPJ 00001180/0001-26
It is hereby certified, for all due intents and
purposes, that the 885th meeting of the Board of Directors of Centrais Elétricas Brasileiras S.A. – Eletrobras
(“Company” or “Eletrobras”) was held on the 03/19/2021, at 5:06 p.m., and that the meeting was adjourned at 6:09
p.m. of the same day. The meeting was held remotely, using the Cisco Webex Meetings videoconferencing application. The meeting was chaired
by Director RUY FLAKS SCHNEIDER (RFS), via videoconference. Directors WILSON PINTO FERREIRA JR. (WFJ), MARCELO DE SIQUEIRA FREITAS (MSF),
LÚCIA MARIA MARTINS CASASANTA (LMC), DANIEL ALVES FERREIRA (DAF), MAURO GENTILE RODRIGUES CUNHA (MRC), RICARDO BRANDÃO SILVA
(RBS), LUIZ EDUARDO DOS SANTOS MONTEIRO (LEM), and BRUNO EUSTÁQUIO FERREIRA CASTRO DE CARVALHO (BEC) attended the meeting via videoconference.
Director FELIPE VILLELA DIAS (FVD) cast his vote by mail, under the terms of Item 8.6.1.1 of the Internal Regulations. The following members
of the Fiscal Board also attended as invitees: PATRÍCIA VALENTE STIERLI; THAÍS MÁRCIA FERNANDES MATANO LACERDA, HAILTON
MADUREIRA DE ALMEIDA, EDUARDO COUTINHO GUERRA and GIULIANO BARBATO WOLF. PricewaterhouseCoopers Auditores Independentes, the Company’s
independent auditor, was represented by Guilherme Valle and Gustavo Sardinha, its members. There is no record of absences. Deliberation:
DEL-026, dated March 19, 2021. Appraisal of the Management Report, and the Complete Financial Statements for the year ending on December
31, 2020. RES 150, dated March 18, 2021. The Board of Directors of Centrais Elétricas Brasileiras S.A. – Eletrobras,
exercising the powers conferred upon it, and based on Executive Board’s decision, on favorable opinion issued by the Audit and Risk
Committee (CAE) at its 170th meeting adjourned on March 18, 2021, on supporting material and the documents hereunder, RESOLVED:
Executive Board’s Resolution No. 150, dated March 18, 2021; Report to the Executive Board No. DF-014, dated March 18, 2021; unnumbered
DFC Executive Summary, dated March 19, 2021; 1. To approve the financial statements of Eletrobras and Consolidated of Eletrobras Companies,
and their referral for the Board of Directors of said Company, with the following values and highlights: 1.1. Financial
Statements: financial statements for the year ending on December 31, 2020 of Eletrobras and Consolidated, comprising the following items:
Independent Auditors’ Report, Balance Sheet, Statement of Income (DRE), Statement of Changes in Shareholders’ Equity (DMPL),
Statement of Cash Flows (DFC), Statement of Comprehensive Income (DRA), and Statement of Value Added (DVA), accompanied by the Notes to
the financial statements; 1.2. Summarized version of the balance sheet and statement of income:
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12/31/2020
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Parent Company
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Consolidated
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ASSETS
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In Thousands of Brazilian Reais
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Current
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25,634,598
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45,191,737
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Noncurrent Receivables
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27,016,460
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71,371,328
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Investment, Fixed and Intangible
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77,826,341
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62,403,384
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130,477,399
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178,966,449
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LIABILITIES AND SHAREHOLDERS’ EQUITY
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Current Liabilities
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15,314,809
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26,400,066
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Noncurrent Liabilities
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41,684,283
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78,815,089
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Controlling Shareholders’ Equity
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73,478,307
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73,478,307
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Non-controlling Shareholders’ Equity
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-
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272,987
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130,477,399
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178,966,449
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2
CA/CAAS
Rua da Quitanda, No. 196, 25th floor.
22210-030 Rio de Janeiro - RJ
Excerpt of RCA 885, dated March 19, 2020.
DEL-026/2021.
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12/31/2020
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Parent Company
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Consolidated
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Net Operating Revenue
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In Thousands of Brazilian Reais
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Operating Costs
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297,036
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29,080,513
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Operational Expenses
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(175,124)
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(13,427,020)
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Periodic Tariff Review
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(4,552,850)
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(12,944,576)
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Financial Result
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-
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4,228,338
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Income from Shareholdings
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(158,697)
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(1,671,646)
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Income before Income Tax and Social Contribution
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10,928,323
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1,687,037
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Income Tax and Social Contribution
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6,338,688
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6,952,646
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Profit for the Year
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-
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(565,333)
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Part Attributed to Subsidiaries
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6,338,688
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6,387,313
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Part Attributed to Non-Controlling Shareholders
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-
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6,338,688
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Net Operating Revenue
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-
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48,625
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2. To approve the proposal for allocation of the
income for the accounting year 2020, and the retained earnings of 2019, according to ANNEX 9-1-II of CVM Instruction No. 481, and to authorize
the disclosure of said proposal by means of a Material Fact on March 19, 2021:
Calculation of Mandatory Dividends for 2020 and Allocation
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(Thousand Brazilian Reais)
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Net Income for the Year
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6,338,688
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(-) Legal Reserve (5% of Net Income)
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(316,934)
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(+) Realization of Revaluation Reserve
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2,757
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(+) Prescribed Dividends
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4,044
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(=) 2020 Adjusted Net Income
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6,028,555
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(-) Mandatory Dividend of 2020 (25% of Adjusted Net Income)
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(1,507,139)
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(=) 2020 Balance to Allocate
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4,521,416
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(+) Retained Earnings
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182,523
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(=) Total Balance to Allocate
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4,703,939
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(-) Investment Reserve created by the Articles of Incorporation (50% of 2020 Net Income)
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(3,169,344)
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(-) Reserve created by the Articles of Incorporation of Assessments and Designs (1% of 2020 Net Income)
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(63,387)
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(-) Retention of Profits (Article 196 LSA - Capital Budget)
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(1,471,208)
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Closing balance
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-
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3. To approve the Managment Report for the accounting
year ending on December 31, 2020, as per draft attached to RES 150, dated March 18, 2021; 4. To approve the Profit Sharing Program –
PLR referring to accounting year 2020 amounting to BRL 38,567,096.00 (Thirty-Eight Million, Five Hundred and Sixty-Seven Thousand and
Ninety-Six Brazilian Reais); 5. To order that all companies controlled by Eletrobras publish their complete financial statements for the
accounting year ending on December 31, 2020 on the same day as those of Eletrobras Holding; 6. To order that each one of the Financial
and Investor Relations Department – DF, by means of the Superintendent’s Office of Investors Relations – DFR, the Superintendent’s
Office of Accounting – DFC, the General Secretariat – PRGS, and the Governance Secretariat – CAAS, take, within their
own scopes of performance, the measures necessary for compliance with this Deliberation.
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3
CA/CAAS
Rua da Quitanda, No. 196, 25th floor.
22210-030 Rio de Janeiro - RJ
Excerpt of RCA 885, dated March 19, 2020.
DEL-026/2021.
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Deliberation Quorum: Unanimously approved. Director
LEM stated disagreement with Item 4 of the deliberation, under the terms of Article 2, Paragraph 3, of Law 12353, dated December 28, 2010.
As a result, Director LEM did not participate in any discussion or deliberation on this specific point of the deliberation. In view of
the deliberation reproduced above, the collective body’s members undersigned the following view statement: “DECISION OF THE
BOARD OF DIRECTORS: The Board of Directors of Centrais Elétricas Brasileiras S.A. – ELETROBRAS, states, pursuant to CVM Instruction
No. 480, dated December 7, 2009, that it has reviewed, discussed, and agreed on the opinions stated in the Company’s independent
auditors’ report – PWC, issued with respect to the Financial Statements of Centrais Elétricas Brasileiras S.A. - Eletrobras,
pertaining to the accounting year ending on December 31, 2020 and, being correct and in order, will subsequently refer them for deliberation
of the Company’s Shareholders’ Meeting.” (aa) RUY FLAKS SCHNEIDER – Chairman; WILSON FERREIRA JR., LÚCIA
MARIA MARTINS CASASANTA, MAURO GENTILE RODRIGUES CUNHA, BRUNO EUSTÁQUIO FERREIRA CASTRO DE CARVALHO, RICARDO BRANDÃO SILVA,
DANIEL ALVES FERREIRA, FELIPE VILLELA DIAS, LUIZ EDUARDO DOS SANTOS MONTEIRO and MARCELO DE SIQUEIRA FREITAS – Directors. This certificate
is issued and signed by me, BRUNO KLAPPER LOPES, Governance Secretary of the Board of Directors of Eletrobras.
Rio de Janeiro, March 25, 2021.
BRUNO KLAPPER LOPES
Governance Secretary
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date: March 29, 2021
CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS
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By:
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/S/ Elvira
Baracuhy Cavalcanti Presta
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Elvira Baracuhy Cavalcanti Presta
CFO and Investor Relations Officer
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FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements.
These statements are statements that are not historical facts, and are based on management's current view and estimates offuture
economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes",
"estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended
to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal
operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends
affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect
the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected
events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic
and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual
results to differ materially from current expectations.
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