ENGIE Strengthens its Position in the Transmission of Electricity in Brazil

Source Press Release
Company ENGIE 
Tags Asset Deals, Deals, Power
Date January 23, 2020

ENGIE announces that it has won the call for tenders launched by Sterlite for the acquisition of a 30-year concession project. The project includes the construction, operation and maintenance of a 1,800 km power transmission line, a new substation and the extension of 3 other substations in northern Brazil. All the necessary installation permits have been obtained to start construction in 2020. The total cost of the investment in the project is expected to amount to 750 million euros.

This 30-year concession will be ENGIE's second transport project in Brazil. In December 2017, the Group won the ANEEL call for tenders for the Gralha Azul project, which includes the construction of 1,000 km of transmission lines, 5 new substations and the extension of 5 others in the 'State of Paraná. With 440 million euros of investment, the construction of Gralha Azul is already underway.

ENGIE thus confirms its position as a major player in the electrical infrastructure sector in Latin America, with nearly 3,000 km of lines deployed by 2022 in Brazil and 2,200 km already deployed in Chile.

Isabelle Kocher, Director General of ENGIE said:

" This transaction follows the acquisition in Brazil of the TAG gas transport network, which represents 4,500 km of gas pipelines, or 47% of all gas infrastructure in the country. We are accelerating the implementation of our strategy in Latin America where there is a strong need for new infrastructure to meet the growing demand for energy ”

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd