December 26 (Renewables Now) - Indian power transmission developer Sterlite Power has won a lot in Brazil's recent auction for transmission projects that will facilitate the development of Rio Grande do Sul state's wind potential.
Lot 13 represents an investment of about USD 0.6 bllion (EUR 527.4m) over three to five years. It involves the construction of six substations and 316 km (196.35 miles) of transmission lines.
When complete, these projects will not only help transport wind power throughout Rio Grande do Sul, specifically in the mountain region of Serra Gaucha, but will also increase the supply capacity and the reliability of the network in the metropolitan area of the state capital Porto Alegre, local watchdog Aneel said.
Sterlite Power will aim to complete work ahead of schedule, it said in a press release on December 24. The firm currently has a 10-project portfolio in Brazil, representing an investment in the order of USD 2 billion.
Brazil's recent transmission tender awarded projects worth BRL 13.2 billion (USD 3.4bn/EUR 3bn), with all 16 transmission batches sold.
(USD 1 = EUR 0.88)
(BRL 1 = USD 0.26/EUR 0.23)