News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexCryptocurrenciesCybersecurityPress Releases

Iberdrola's Neoenergia wins big in Brazil's power transmission auction

06/30/2022 | 12:32pm EDT

SAO PAULO, June 30 (Reuters) - Brazilian power company Neoenergia SA, controlled by Spain's Iberdrola SA , made the winning bid for the largest energy transmission project auctioned by the South American country on Thursday.

The 13 blocks auctioned total 5,425 kilometers (3370.94 miles) of transmission lines with an investment estimate at 15.3 billion Reais ($2.93 billion).

The second batch, won by Neoenergia, comprised 1,707 km of transmission lines in the southeastern states of Sao Paulo and Minas Gerais, and was expected to require investment of 4.94 billion reais.

The Iberdrola-controlled firm also won smaller block 11 with 291 km of lines in Mato Grosso do Sul.

A consortium including Cymi Brasil and Canada's Brookfield won block 1, comprising 1,269 km lines in Minas Gerais, which is set to require 3.68 billion reais in investments.

ISA CTEEP, controlled by Colombia's Interconnection Electric SA, secured the third batch with capital expenditure estimated at 3.65 billion reais. It also won block 6.

Eletrobras, through its subsidiary Eletronorte, won block 8, marking its first deal since 2014, as its privatization, earlier in June, paved the way for Latin America's largest utility to make significant investments again.

Block 8 comprised transmission lines in Rondonia state and Eletrobras aims to invest around 137.74 million reais in the venture.

India's Sterlite won blocks 5 and 9, while Brazil's Taesa made the winning bid for block 10. Zapone Engenharia e Comercio won block 4 and was also part of a consortia with Sollo Energia that won block 13.

Engie Brasil was successful to acquire block 8 and Energisa got block 12.

($1 = 5.2207 reais) (Reporting by Leticia Fucuchima; Writing by Gabriel Araujo and Peter Frontini; Editing by Edmund Blair Editing by David Evans, Mark Potter and Aurora Ellis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BROOKFIELD ASSET MANAGEMENT INC. 0.22% 68.55 Delayed Quote.-10.26%
CENTRAIS ELETRICAS BRASILEIRAS S.A. 0.20% 49.05 Delayed Quote.48.59%
COMPANHIA PARANAENSE DE ENERGIA - COPEL -0.14% 7.08 Delayed Quote.10.09%
CTEEP - COMPANHIA DE TRANSMISSÃO DE ENERGIA ELÉTRICA PAULISTA S.A. 2.12% 24.05 Delayed Quote.-1.07%
EDP - ENERGIAS DE PORTUGAL, S.A. -1.90% 4.96 Real-time Quote.2.65%
EDP - ENERGIAS DO BRASIL S.A. 0.70% 23.02 Delayed Quote.9.93%
ENGIE 0.73% 12.9 Real-time Quote.-0.88%
ENGIE BRASIL ENERGIA S.A. 0.23% 42.88 Delayed Quote.11.64%
IBERDROLA, S.A. -0.19% 10.735 Delayed Quote.3.12%
INTERCONEXIÓN ELÉCTRICA S.A. E.S.P. 0.00% 21100 End-of-day quote.-5.80%
NEOENERGIA S.A. 3.33% 16.75 Delayed Quote.3.40%
TAESA (TRANSMISSORA ALIANÇA DE ENERGIA ELÉTRICA) S.A. 1.21% 42.66 Delayed Quote.15.89%
Latest news "Economy & Forex"
07:59aRushdie's stabbing highlights divisions in Iranian society
RE
07:54aRushdie's stabbing highlights divisions in Iranian society
RE
07:49aUkraine war diverts attention from hunger, pope says in Somalia appeal
RE
07:48aUkraine war diverts attention from hunger, pope says in Somalia appeal
RE
07:44aU.S. congressional delegation to visit Taiwan from Sunday
RE
07:33aAt least 40 killed in Egyptian church fire, security sources say
RE
07:29aUs congressional delegation to visit taiwan from sunday, de fact…
RE
07:29aAt least 35 killed in Egyptian church fire, security sources say
RE
07:02aA strong explosion hit a large market in armenia’s capital, sett…
RE
06:56aGermany reaches 75% gas stocks target ahead of schedule
RE
Latest news "Economy & Forex"