Sterlite Power wins second lot in transmission auction in Brazil
Sterlite Brazil Participações S.A. (“Sterlite Brazil”), a subsidiary of Indian company Sterlite Power Transmission Limited (the “Company”), a company that develops transmission projects, won lot 02 in the transmission auction (no. 002/2021), promoted on 17th December 2021 by the Brazilian Electricity Regulatory Agency, at B3, in São Paulo. The Annual Permitted Revenue (RAP) of the project is BRL 7.093 million (USD 1.3 million), which corresponds to a discount of 66.9% in relation to the maximum amount of BRL 20.914 million (USD 3.8 million). Five enterprises lots were auctioned. Lot 2 is in the state of Bahia and consists in the construction of a substation in the city of Olindina, a municipality that has been presenting development.
The result of the auction is part of the Company’s investments in the country. Currently, Sterlite Brazil has five projects in progress in the country.
Sterlite Power is a leading power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 circuit kms of transmission lines across India and Brazil. The Company has a portfolio of high-performance power conductors, EHV cables and OPGW. The company provides bespoke solutions for the upgrade, uprate and fiberzation of existing transmission infrastructure projects. It is the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (“InvIT”), listed on the BSE and NSE. The company was also recognised at The Economic Times Innovation Awards 2020 and is a recipient of awards from International Project Management Association (IPMA).