Brazil awards $3.4bn of new power line projects

The sale represents around 4,444 miles of new transmission infrastructure

Brazil has awarded $3.4 billion (£2.7bn) of new transmission line capacity in an auction.

All 16 transmission batches on offer were successfully sold, representing around 4,444 miles of power lines, substations and other related infrastructure.

The projects will be built across 13 Brazilian states, with the auction achieving an average discount of 46%.

Power sector regulator Aneel has said Neoenergia, subsidiary of Spain’s Iberdrola, was the biggest buyer, purchasing a total of four packages.

The construction works have a 30-year concession term with an implementation period of between 48 and 60 months.

ABB recently signed a $20 million (£15.4m) contract to improve power supply and reliability in Brazil.

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