Brazil’s $4.4 Billion Energy Auction Sees Chinese State Grid Take Top Project
- All the transmission contracts Brazil offered were sold
- Infrastructure to connect renewables hot spots with consumers
It was Brazil’s largest auction yet for power lines and followed a similar one in June, where 15.7 billion reais in contracts were awarded.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
State Grid Corp. of China was the biggest winner at Brazil’s auction for 21.7 billion reais ($4.4 billion) in transmission lines on Friday, which will help connect renewable-power projects to major population centers.
The Chinese utility took the biggest project, and other winners include Celeo Redes Transmissao de Energia SA and Olympus XVI, a consortium backed by Alupar Investimento SA and Mercury Investments Participacoes SA. It was Brazil’s largest auction yet for power lines and followed a similar one in June, where 15.7 billion reais in contracts were awarded.