Sterlite Power wins two transmission projects in Brazil
On July 14, 2022, Sterlite Power Transmission announced that its Brazilian subsidiary had won two transmission auctions in Sao Paulo. The projects will be implemented over a 42-60 month period.
The National Electric Energy Agency (ANEEL) promoted an auction on June 30, 2022, for the construction and maintenance of 5,425 km of transmission lines in Brazil.
Lot 05, located in the states of Bahia and Sergipe, will focus on developing a 113 km transmission line with a capacity of 300 MVA for the state of Sergipe. Sterlite Power won Lot 05, which offered RAP (Permitted Annual Revenue) of BRL 22 million (USD 4.4 million), representing a discount of 32.81 percent over the maximum amount of BRL 30 million (USD 6.0 million).
Sterlite Power also won Lot 09, which offered RAP (Permitted Annual Revenue) of BRL 88 million (USD 17.6 million) at a discount of 32.81 percent from the maximum RAP of BRL 130 million (USD 26 million). Lot 09, located in the states of Mato Grosso and Para, will involve the construction of a 505 km transmission line with an 850 MVA capacity to meet the energy demands of the Claudia (MT) and Novo Progresso regions (PA).
The projects will be completed in 42 to 60 months and are expected to create 32,000 direct jobs during the construction period.
“With a strong pipeline of transmission projects, Sterlite Power is making a significant contribution to improving access to reliable power in Brazil,” said Pratik Agarwal, Managing Director of Sterlite Power. With these significant project wins, we have increased our footprint even more. By delivering high-quality transmission assets in record time, we will continue to make a significant difference in the lives of Brazilians.”
The outcome of this first auction in 2022 will play a role in Sterlite’s overall investment plan for the nation. Amitabh Prasad, CEO of Sterlite Power Brazil, commented on the victories, saying, “Brazil is very significant for our investments, as a country with a long-term pipeline in the power sector. With these two projects, we will continue to support the flow of electricity in the regions of Bahia, Sergipe, Mato Grosso, and Pará because we had well-prepared ourselves for this auction.
In addition to the new wins mentioned above, the Indian company’s Brazilian subsidiary currently has six projects in the country, three of which will be delivered this year and three of which are in the project development stage.
