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Chinese company wins energy auction in Brazil

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Staff writer ▼ | July 20, 2015
Chinese State Grid Brazil Holding S/A has won the energy transmission auction held at the BM&F Bovespa futures and commodities exchange by the National Electric Energy Agency (Aneel).
Brazil electricity
Energy   An auction held at the BM&F Bovespa exchange
The company offered R$ 988 million ($314.2 billion), at a 19% markdown, to build 2.550 km worth of power lines and 7,800 megawatts (MW) of installed capacity in the states of Pará, Tocantins, Goiás, Minas Gerais and Rio de Janeiro.

The company will work under a 30-year concession counting from the signing of the contract. Investments should amount to R$ 7 billion ($2.2 billion), with completion believed to take place in 50 months and 16,800 new direct jobs.

The company will carry energy from the Belo Monte Hydroelectric Plant to the power station Estação Terminal Rio, to be built in Paracambi, Rio de Janeiro.