Sterlite Power Signs Concession Agreement for the Pampa Project in Rio Grande do Sul

Energy Press Releases Wednesday April 17, 2019 10:38
NEW DELHI--17 Apr--PRNewswire/InfoQuest
  • The agreement for batch 13, won at energy transmission auction held by ANEEL

Sterlite Power announced the signing of the Concession Agreement for batch 13, won in auction No. 04/2018. The Director General, ANEEL and authorities representing the Brazilian Government were present for the signing. The agreement was finalized during the first technical management meeting with ANEEL's Superintendency of Concessions, Permissions and Authorizations for Transmission and Distribution (SCT).

The batch includes the construction of 3 energy transmission lines, for a total length of 316 km, two substations and 1,544 MVA transformation capacity, with Annual Allowed Revenue (RAP) of BRL 74.72 million and an investment of BRL 777.8 million. According to ANEEL's deadline, the project is expected to be completed in March 2023, and signing the concession agreement represents an important milestone in its evolution.

Ved Mani Tiwari, CEO – Global Infrastructure Business, Sterlite Power said, "Brazilian power sector is characterized with policy and regulatory maturity. Given the strong contractual framework, including long concession tenures (30 years) and inflation-protected revenues (which help lower the forex risk), the Brazil market presents us with clear vision to implement projects in time bound manner. We hope to replicate our successes in India in Brazil too."

"We are pleased with the ceremony and the meetings held today. They represent the advancement to the next stage in this project's timely completion," declared Rui Chammas, the company's CEO in Brazil. "We are in the process of acquiring various licenses to ensure total compliance to the highest standards," he added.

About Sterlite Power

Sterlite Power is a leading global developer of power transmission infrastructure with projects exceeding 12,500 km in circuits and 20,500 MVA in India and Brazil. With a market-leading portfolio in power conductors, EHV and OPGW cables, Sterlite Power also provides solutions for updating, improving and reinforcing existing networks. The company has set new benchmarks in the industry through cutting-edge technologies and innovative financing. Sterlite Power also sponsors IndiGrid, the first Infrastructure Investment Company in the energy industry in India ("InvIT"), listed on BSE and NSE. For further details, please visit www.sterlitepower.com .

Press
Speyside Group
+55 (11) 2667-8400
sterliteBR@speyside-group.com
Logo: https://mma.prnewswire.com/media/558206/Sterlite_Power_Logo.jpg

Latest Press Release

LONGi Solar achieves top-performing AA-rating status in new PV ModuleTech Bankability rankings

LONGi Solar, a subsidiary of LONGi Green Energy Technology Co., Ltd, has achieved AA-Rating status, in the first quarterly release of PV-Tech's new PV ModuleTech Bankability Ratings. LONGi Solar is one of only four solar photovoltaic (PV) module...

Thailand and Germany kick-start efforts to increase the climate resilience of communities at Sakaekrang river basin

The Office of the National Water Resources (ONWR) with support from the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH organised a launch of their joint project activities under the Thai-German Climate Programme - Water (TGCP –...

Risen Energy#s USD 467 million high-efficiency heterojunction project in Ninghai, China commences construction

On August 19, Risen Energy Co., Ltd. held a groundbreaking ceremony for its 2.5GW high-efficiency heterojunction cell and module project in Ninghai, a county within the city of Ningbo, Zhejiang province. On the same day, several other major projects...

First Training on the Safe Use and Handling of Flammable Natural Refrigerants in Air Conditioners Launched in Thailand

Mongkut's University of Technology North Bangkok (KMUTNB), the Electricity Authority of Thailand (EGAT), and the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH joined up to launch the "Grand Opening of First R Training: Safe Use and...

UPDATE: Venture Global Announces Final Investment Decision and Financial Close for Calcasieu Pass LNG

Venture Global LNG, Inc. is proud to announce the final investment decision (FID) and closing of the project financing for the company's Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, Louisiana. The proceeds of the...

Related Topics