Overview

• State Grid Corp. of China won the largest project in Brazil's biggest-ever electricity transmission line auction, with a bid to build and operate 1,500 kilometers of lines.
• The auction is part of a series of tenders planned by the Brazilian government to increase the electricity transmitted from renewable sources generated in the northeast of the country to demand from southern sources.
• Other winners include Celeo Redes Transmissao de Energia SA and Olympus XVI, a consortium backed by Alupar Investimento SA and Mercury Investments Participacoes SA.
• The winning bids were determined by the largest discount offered on the annual revenue, paid once facilities start operations.
• The projects are expected to start five to six years after the 30-year contracts are signed.