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Sterlite Power bags power transmission project in Brazil
Industry News- Dec 24,18
An investment of nearly $0.6 bn will be required for the project, which will include 6 substations.
Delhi, 24th December, 2018: Sterlite Power has won a transmission project in the recently concluded auction for transmission projects in Brazil. The project, which includes 6 substations, will require an investment of $0.6 billion over the period of next 3-5 years in the state of Rio Grande do Sul, in the southern region of Brazil. This addition increases the portfolio of Sterlite Power to 10 projects.
Talking about Brazil and the company’s investment in the region, Pratik Agarwal, Group CEO, Sterlite Power said, “We feel proud and honoured to be part of the Brazilian growth story. Our motivation to work on the toughest transmission projects that empower humanity has been the cornerstone of our journey in Brazil. We feel committed to the region and look forward to delivering the new project ahead of schedule.”
Rui Chammas, CEO, Sterlite Power Brazil said, “We are happy to have won this project in the current auction. I must congratulate ANEEL for providing a visible pipeline of projects and for the transparent way of conducting these auctions. Sterlite Power is committed to delivering these projects ahead of schedule by leveraging a network of partners and a top-class local team.”
Brazil's transmission system needs to add significant capacity to manage the transition in generation footprint: from a hydro and thermal baseload to renewable generation.
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