Brazil conducted its largest-ever auction for power transmission lines on Friday, as announced by the Ministry of Mines and Energy.
The auction, with an expected investment volume of 15.7 billion Reais (approximately 3.257 billion dollars), took place at the São Paulo Stock Exchange and included nine power transmission lots spread across different regions of Brazil.
The companies awarded the contracts will be responsible for constructing, operating, and maintaining 6,184 kilometers of transmission lines and substations with a transformation capacity of 400 Megavoltamperes (MVA).
“Today is a historic day. This is our country’s largest auction for transmission lines ever held.”
“With hard work and determination, we are implementing one of the world’s largest transmission and energy transition programs,” said Brazilian Minister of Mines and Energy Alexandre Silveira.
According to the ministry’s statement, the investments will be allocated to 33 projects in seven states: Bahia, Espírito Santo, Minas Gerais, Pernambuco, Rio de Janeiro, São Paulo, and Sergipe.
The statement also mentioned the creation of 60,000 direct and indirect jobs, with an execution period of up to 66 months and concessions lasting for 30 years.