Sterlite Power arm bags second lot in transmission auction in Brazil

31 Dec 2021 CW Team

Sterlite Brazil Participacoes S A, a Sterlite Power Transmission arm, has won the second lot in a transmission project in an auction in Brazil.

As per the company statement, Sterlite Brazil Participacoes S.A. (Sterlite Brazil), a subsidiary of India's Sterlite Power Transmission (the firm), acquired lot 02 in the transmission auction, announced on 17th December 2021 by the National Electric Energy Agency (ANEEL), at B3, in Sao Paulo.

The annual permitted revenue (RAP) of the plan is $1.3 million, which equals a discount of 66.9% with a maximum amount of $3.8 million.

Five companies lots were auctioned. Lot 2 is in the state of Bahia and consists of a substation development in the city of Olindina, a municipality that has been presenting development.

The outcome of the auction is part of the firm's investments in the nation. Presently, Sterlite Brazil has five projects in development in the nation.

Sterlite Power is a power transmission infrastructure developer and solutions provider with projects including about 13,700 circuit km of transmission lines across India and Brazil.

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