Sterlite Power Transmission arm Sterlite Brazil Participacoes S.A. has bagged second lot in transmission project in an auction in Brazil. “Sterlite Brazil Participacoes S.A. (Sterlite Brazil), a subsidiary of India’s Sterlite Power Transmission (the company), won lot 02 in the transmission auction (no. 002/2021), promoted on 17th December 2021 by the National Electric Energy Agency (ANEEL), at B3, in Sao Paulo,” a company statement said.
The annual permitted revenue (RAP) of the project is BRL 7.093 million (USD 1.3 million), which corresponds to a discount of 66.9 per cent in relation to the maximum amount of BRL 20.914 million (USD 3.8 million).
Five enterprises lots were auctioned. Lot 2 is in the state of Bahia and consists in the construction of a substation in the city of Olindina, a municipality that has been presenting development, it informed.
The result of the auction is part of the company’s investments in the country. Currently, Sterlite Brazil has five projects in progress in the country, it stated.
Sterlite Power is a leading power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 circuit kms of transmission lines across India and Brazil.