The company won the lot at the B3 in So Paulo in a transmission auction promoted by the National Electric Energy Agency (ANEEL) on 17 December 2021 by Sterlite Brazil Participesa SA, a subsidiary of transmission major Sterlite Power Transmission Ltd. Statement.
The annual permitted revenue (RAP) of the project is BRL 7.093 million ($1.3 million), corresponding to a discount of 66.9 percent with respect to the maximum amount of BRL 20.914 million ($3.8 million).
Lots of five enterprises were auctioned. Lot 2 is in Bahia and is involved in the construction of a substation in the city of Olindina, a municipality presenting the development.
“The outcome of the auction is part of the company’s investment in the country. Presently, Sterlite Brazil has five projects in progress in the country,” the company said.
Sterlite Power is a leading power transmission infrastructure developer and solution provider with projects covering approximately 13,700 circuit kilometers of transmission lines in India and Brazil.
Read also: Sterlite may enter power storage business
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