New Delhi: In the recently concluded auction for transmission projects in Brazil, Sterlite Power emerged as the winner for Lot 13.
The project will require an investment of USD 0.6 billion over the period of next 3-5 years in the state of Rio Grande do Sul, south region of the country. This addition increases the portfolio of Sterlite Power to 10 projects.
Talking about Brazil and the company’s investment in the region, the Group CEO of Sterlite Power, Pratik Agarwal 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, Sterlite Power CEO in 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.