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Indian Sterlite completes sale of two transmission assets in Brazil [free access]

March 26, 2020

India’s Sterlite Power Transmission Limited has completed the sale of two of its transmission assets in Brazil.

 

It has sold its special purpose vehicle (SPV), Arcoverde Transmissora de Energia, to V2i Transmissão de Energia S.A., funded by Vinci Energia Fundo de Investimento em Participações em Infraestrutura (Vinci Energia FIP-IE)), for USD35 million.

 

The SPV had commissioned the Garanhuns II–Arcoverde II and Caetés II–Arcoverde II Line and Associated Network Project in Brazil, in May 2019, two years before the scheduled commercial operation date in August 2021. The project was awarded to the developer as Lot 15 during Auction No. 05/2016 held by Brazil’s energy regulator, Agencia Nacional de Energia Eletrica (ANEEL) in April 2017.

 

The project involved the construction of the 89-km, 230 kV Garanhuns II–Arcoverde II line; the 50-km, 230 kV Caetés II–Arcoverde II line; the 230/69 kV Arcoverde II substation of 2x100 MVA capacity; and the 230/69 kV Garanhuns II substation of 2x100 MVA capacity, in the state of Pernambuco. 

 

In another deal, it sold its Project Pampa to FIP Brasil Energia and CYMI Construções, which contemplates the construction of three power transmission lines totaling 316 km in length, two substations and a transformer capacity of 1,544 MVA, scheduled for completion in March 2023, according to the ANEEL deadline. 

 

The project was awarded to Sterlite during Auction No. 04/2018 as Lot 13 in December 2018. It includes construction of the 525 kV Capivari–Gravataí, C1 line of 83 km; 230 kV Capivari–Viamão 3, C1 line of 65 km; 525 kV Guaiba 3–South Capivari, C1 line of 168 km; and 525/230/138 kV South Capivari's substation with (6 + 1)x230/138 kV, 224 MVA and 2x100 MVA capacity.

 

(BRL1=USD0.20)