Chinese State Grid Wins Largest Project in Brazil's Largest-Ever Power Line Auction

The auction is part of Brazil's plan to increase the transmission of electricity from renewable sources in the northeast to meet demand in the south.

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.