ENEVA S.A. CNPJ/MF (Taxpayer Registration Number): 04.423.567/0001-21 NIRE (Company Registration Number): 33.3.

0028402-8 Publicly Held Corporation

MINUTES OF MEETING OF THE BOARD OF DIRECTORS HELD ON JANUARY 27th, 2014 1. DATE, TIME AND PLACE: On January 27th, 2014, at 1 p.m., at the head

offices of the Company located at Praia do Flamengo 66, 7th floor, in the City and State of Rio de Janeiro, Zip Code 22.210-903. 2. CALL AND ATTENDANCE: The Meeting was called pursuant to the bylaws of

ENEVA S.A. (Company ) and applicable law and attended by the following members of the Companys Board of Directors: Luiz do Amaral de Frana Pereira, Adriano Carvalhdo Castello Branco Gonalves, Jrgen Kildahl, Eliezer Batista da Silva, Stein Dale, Keith Plowman, Luiz Fernando Vendramini Fleury and Ronnie Vaz Moreira. Mr. Ricardo Ramos sent his votes directly to the Chairman, according to the provisions of the Companys by -laws. 3. CHAIR: After the presence of the Members of the Companys Board of

Directors was verified, Mr. Jrgen Kildahl acted as Chairman and designated Mr. Rodrigo Beraldo to carry out the duties of secretary. 4. AGENDA: Deliberate on (i) the schedule of Ordinary Meetings of the Board of

Directors for 2014; (ii) coal supply agreement for 2014; and (iii) amendments to the Medium Term Plan (MTP), budget and KPI framework for 2014. 5. RESOLUTIONS: The members of the Board of Directors resolved to

unanimously and without restrictions: (i) approve the Annual Schedule of Ordinary Meetings of the Board of Directors

for 2014, according to the presented proposal; (ii) authorize Itaqui Gerao de Energia S.A. and Pecm II Gerao de Energia

S.A. to enter into a Coal Supply Agreement with E.ON Global Commodities for the supply of coal during 2014, according to market conditions as presented on the meeting; and (iii) approve the changes on the Companys Medium Term Plan (MTP), budget and

KPI Framework for 2014, according to the presented proposal.

6.

CLOSING AND RECORDING: At 6:00 p.m., as there was nothing further to

be discussed, the Meeting was closed and these minutes were recorded, read and signed by all in attendance. Rio de Janeiro, January 27th, 2014.

Members of the Board of Directors:

____________________ Jrgen Kildahl

__________________________ Eliezer Batista da Silva

_______________________________ Adriano C. Castello Branco Gonalves

____________________________ Luiz do Amaral de Frana Pereira

________________________ Stein Dale

_________________________ Keith Plowman

_____________________________ Luiz Fernando Vendramini Fleury

_____________________________ Ronnie Vaz Moreira

Secretary:

__________________________ Rodrigo Beraldo