Brazil presents plan to auction USD 11bn in green power lines

Brazil's minister of mines and energy, Alexandre Silveira, presented on Friday the Electricity Transmission Grants Plan (POTEE) to invest BRL 56 billion (USD 11.2bn/EUR 10.2bn) in the construction of renewable power transmission infrastructure in the Northeast region.

The government intends to hold a total of three auctions, starting with one for BRL 16 billion in the first half of 2023, followed by another for BRL 20 billion by the end of the year. The remaining BRL 20 billion will be the subject of an auction to be held in 2024.

POTEE is expected to enable the installation of 30 GW of renewable energy generation and to unlock more than BRL 120 billion in private investment.

The minister stated that this plan will not only enable the transmission of cheap renewable power for local consumption but also the production of green hydrogen.

(BRL 1.0 = USD 0.200/EUR 0.182)

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