Heat 1 tablespoon oil in a large saucepan over medium-high heat. Add onion and sugar; sauté 30 seconds. Stir in spinach and next 5 ingredients (spinach through garlic); sauté 30 seconds or until spinach wilts. Remove spinach mixture from pan; set aside.
Bring water and broth to a simmer in a small saucepan (do not boil). Keep warm over low heat.
Heat 1 tablespoon oil in large saucepan; add rice. Cook 5 minutes, stirring constantly. Stir in wine; cook until wine is absorbed, stirring constantly. Stir in 1/2 cup broth mixture; cook 4 minutes or until the liquid is nearly absorbed, stirring constantly. Add remaining broth mixture, 1/2 cup at a time, stirring constantly, until each portion of broth is absorbed before adding the next (about 22 minutes total). Stir in spinach mixture and cheese; cook 1 minute or until thoroughly heated.