Good afternoon, ladies and gentlemen. You're welcome to Energisa's S.A. conference for the transmission auction carried out on December 17, 2020. We inform that participants are on listen-only mode during the company's presentation. After that, we're going to start the Q&A session, when further instructions will be provided. In case any of you need to have any further assistance, please request the assistance of an operator by dial star zero. We also inform that this teleconference is going to be held in Portuguese by the company's manager, and the conference in English is going to be done by simultaneous translation.
Before moving on, I'd like to clarify that eventual declarations made during the teleconference regarding the business perspectives of the company, projections, and operational goals and financial goals, are based on beliefs of Energisa and also on information currently available for the company. This is not a guarantee of performance, and they involve risks and premises, and refer to future businesses that may or not take place. Investors should understand that overall economic conditions of the industry, and other operational factors may have an impact on the company's performance, I'm sorry, and affect future outcomes. I now turn over to Mauricio Botelho, who will make the presentation. Please, Mr. Mauricio, proceed.
Thank you, operators. Good afternoon, ladies and gentlemen. I am pleased to present to you the results of yesterday's auction. Here in this call, we have Gabriel Mussi, our Transmission Director, also Tovar, our Corporate Finance Director, and we also have our investor relations team, Deborah Nunes and Pablo Teixeira. As I mentioned, I'm going to divide or to share the presentation with Gabriel. I turn over to him to kick off the presentation.
Thank you, Mauricio. Good afternoon, everyone. I'm going to talk a little bit about Energisa's auction. We always look for assets with good performance. We also have assets with anticipated projects. Our position is always conservative. I will talk a little bit about the map here. In orange, we have the operational lots that were obtained in the State of Pará. We have the two lots in construction, number 19 and 18, whose construction is more advanced. Now, regarding Lot 11, which was acquired yesterday, it has some environmental complexity.
We have new installations, the environmental complexity is low. Yesterday, we won Block 11 with some assets, which will improve our transmission in the metropolitan region of Manaus in the State of Amazon, and will lead us into a more differentiated position. Moving on to slide four, I'm going to talk a little bit more about these assets. We obtained existing assets with new installations planned. We acquired seven substations, which are sector-assigned to AMDT. We have the Manaus substations. We will replace some existing assets.
In the Manaus substation, we will replace the 69 kV yard in a ring arrangement, the transmission lines are short. We have Telechuga, also the transmission lines that are associated. All of them are short stretches. One of them is 3 km underground. They are not long lines, they are short. Even though the asset is in the Amazon, it's not a high complexity asset. Regarding the existing assets, we have about BRL 228 million until the month before the contract is signed. The contracts for June and the month before the signature of the contract.
This amount is part of the total asset. We're going to operate these assets. We have operational excellence. We have regional maintenance teams. Before the auction, we planned everything with the team, and we're now going to plan the alignment so that we can have a smooth transition. Furthermore, in terms of CapEx, we have some investments for the exchange of equipment. I'm going to turn over to Maurício for slide number five.
We're now in slide number five. We have four projects. They are for the previous auction. Two of them, Energisa Goiás and Pará I in 2020. The term is for 12-6 months. We have yesterday's block, an investment of BRL 382 million. The RAF was BRL 66 million. In this project, we have a tax benefit for the SUDAM region. We can also obtain funding using fomenting banks. In special, we have the support for the existing projects. On average, we have an anticipation between 12-18 months, including the revitalization of some existing projects. The consolidated RAF is going to be of approximately BRL 282 million.
We are now going to move on to slide number six. We're going to document some of the premises. For strategic reasons, we're not going to inform the return rate, but we have negotiated with good providers. We try to obtain return rates that are equivalent according to the moment and according to previous auctions. Our CapEx will have a reduction in the order of 15%. We're also going to try to obtain a rate benefit. The payment schedule or the CapEx schedule for 2021 is 40%. Then in 2024, it's going to be 26%. The EPC provider is Elecnor Brasil. They construct lines, substations, wind farms, and develop gas projects as well.
The contract with EPC anticipates bonuses. It also establishes full guarantees in case of delays. Now, regarding funding, as mentioned before, we will try to obtain financing along with BASA and perhaps BNDES. Typically, these projects in fomenting banks anticipate a leverage of 60%. As done in other transmission projects, we can complete this leverage by means of the holding and Energisa transmission holding, reaching a level of 90% as done with prior projects.
This is in slide seven. You can see the conditions for the funding that have already been achieved for existing projects. You can have an idea of how these financing works. We're trying to obtain equal or better rates. Now in slide eight, we have an update of the existing projects. In this slide, you can see the evolution of the Pará II and Tocantins transmission. In Pará II, we have a physical progress of 55%. For Tocantins, we have a physical progress of 12%. In Tocantins, the lines are installed. We will intensify this in the upcoming months.
As mentioned before, after concluding this project, we have five assets totaling 1,500 km with 4,900 MVA and a RAF of BRL 258 million in updated amounts. A total CapEx of the five projects will total BRL 2.5 billion, of which BRL 790 have already been invested, of this BRL 72 million in the Goiás and Pará projects. I wrap up my presentation and am available for Q&A. Operator, please.
Thank you. We're now going to start our Q&A session. In case you have any questions, please press star one. Our first question is from André Sampaio, Santander.
Good afternoon. I wanted to ask a question regarding the tax benefits. I wanted to understand what the strategy is and also what the deadline is going to be, because there is a possibility that the RAF will go from a minimal level. I would like you to explain why you chose this strategy to start with.
Tovar, can you answer this question, please? Of course. Tovar, your sound is very low.
I thank you for the question. Our strategy regarding the funding is something that we have discussed based on other operations. We have an expectation that we will be able to multiply the structures that have been used for Pará I and II. We are already concluding negotiations so that we can receive the funding for Tocantins. The idea is for us to multiply this model. They were approved for Block 11, which has a special characteristic, as mentioned by Gabriel.
There is a significant investment in the beginning, especially for the assets that are transferred to the concession. Of course, we will try to obtain a short-term line so that we can make the payments because of this transfer of assets, and also so that we have enough time to organize this long-term funding. Once the BASA is released, the idea will be to pay this. We think that the bridge is going to be basically an operation with Energisa risk, a smooth operation that we have been discussing with some of the banks that could support us. The bridge would allow us to have enough time so that we can organize this structure.
Therefore, this first release would include this bridge, which is very important for us to make this first payment so that the transfer of assets is enabled. Now , regarding the tax benefit from SUDAM, we will use the same rationale that was used for our Tocantins line in Bahia. In fact, we do not have any innovation, as commented by Maurício. This is a less complex lot in terms of licensing. We have overcome problems. We do not have any main challenge. Our expectation is to be able to conduct this with a leverage of about 90%, which is our target. This is something that was done for some of the last ones, and therefore, the challenge seems to be very similar, and we already have the required experience so that we can have the restructuring of Block 11.
Thank you very much for your answers.
Excuse me. I'd like to remind you that to ask question, you should dial star one. To remove your question from the list, press star two. Since we do not have any further questions, I turn over to Mr. Maurício for his final considerations. Please, Mr. Maurício, proceed.
Thank you all for your participation in this conference call. This is a winning project of Energisa. We believe that we have sustainable growth for transmission, and therefore, we hope to add another important diversification for Energisa's group. I thank you all. Good afternoon.
Thank you. Energisa's earnings conference is now over. Please disconnect from your lines now.