Sterlite Power Wins 2 Projects at Transmission Auctions in Brazil
Transmission projects developer Sterlite Power Transmission Ltd’s Brazilian arm Sterlite Brazil Participações S.A. (Sterlite Brazil) has won two significant projects i.e. Lot 05 and Lot 09 at the transmission auctions (n° 001/2022) held at B3 in São Paulo.
July 14, 2022. By Manu Tayal
Recently, the National Electric Energy Agency (ANEEL) auctioned 13 lots for the construction and maintenance of 5,425 kilometers of transmission lines in Brazil.
Commenting on the two projects' win, Pratik Agarwal, Managing Director of Sterlite Power, said, “with a strong pipeline of transmission projects, Sterlite Power is making a significant contribution in enhancing access to reliable power in Brazil. Our footprint is further strengthened with these critical project wins. We will continue to make a meaningful impact on the lives of people in Brazil by delivering quality transmission assets in record time.”
The transmission project ‘Lot 05’, located in the states of Bahia and Sergipe, will focus on developing a 113 km long transmission line and 300 MVA transmission capacity for Sergipe. The company won this project by offering RAP (Permitted Annual Revenue) of approx. USD 4.4 million, which corresponds to a discount of 32.81 per cent in relation to the maximum amount of USD 6 million.
Besides, it also won Lot 09, which offered RAP (Permitted Annual Revenue) of approx. USD 17.6 million with a discount of 32.81 per cent over the maximum RAP of USD 26 million. The Lot 09 transmission project, Located in the states of Mato Grosso and Pará, will involve building a 505 km long transmission line and 850 MVA capacity to address the energy demands in the regions of Claudia (MT) and Novo Progresso (PA).
The company said that these projects would be implemented over a period of 42 to 60 months and are estimated to generate ~32,000 direct jobs during the construction period.
The result of this first auction of 2022 is part of the company’s investment strategy in the country, it added.
“Brazil is very important for our investments, a country where the power sector has a long-term pipeline. We had prepared ourselves well for this auction and, with these two projects, we will continue to contribute to the flow of energy in the regions of Bahia, Sergipe, Mato Grosso, and Pará.”
Meanwhile, Sterlite Brazil already has six projects in the country, out of which three will be delivered this year whereas three are currently in the project developmental stage.
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