Global Players Dominate Brazil $2.6 Billion-Power Line Auction
- France’s Engie and India’s Sterlite among the winners
- ‘Auction showed investors’ confidence, says President Temer
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Foreign energy companies dominated a power-line auction in Brazil as the country seeks to expand its infrastructure to support new power plants.
France’s Engie SA, India’s Sterlite Technologies Ltd. and Neoenergia SA, majority-owned by Spain’s Iberdrola SA, were among companies that won the right to build transmission lines. The event drew aggressive bidding, averaging 40 percent below ceiling prices set by regulators. The auction will spur 8.75 billion reais ($2.6 billion) in investment , in line with government expectations.