Sterlite Power Wins 2nd Lot in Transmission Auction in Brazil

Transmission projects developer Sterlite Power Transmission Ltd’s Brazilian arm Sterlite Brazil Participações S.A. (Sterlite Brazil) has won the second lot in the transmission auction (no. 002/2021), promoted by the National Electric Energy Agency (ANEEL), at B3, in São Paulo.
 
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 of the construction of a substation in the city of Olindina, a municipality that has been presenting development.
 
The result of the auction is part of the company’s investments in the country. Currently, it has five projects in progress in the country.
 
The company 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.
 
It has a portfolio of high-performance power conductors, EHV cables and OPGW. The company provides bespoke solutions for the upgrade, uprate and fiberzation of existing transmission infrastructure projects.
 
Meanwhile, it is the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (InvIT), listed on the BSE and NSE.