Sterlite Power bags $1 billion power transmission projects in Brazil
The projects include setting up 23 sub-stations; 2,000 circuit Kilometer of transmission lines and 5,500 Mega Volt Ampere of transformation capacity
New Delhi: Delhi-based private power transmission firm Sterlite Power today announced it has bagged six new electricity line projects worth $1 billion in a recently concluded auction in Brazil.
The projects include setting up 23 sub-stations; 2,000 circuit Kilometer of transmission lines and 5,500 Mega Volt Ampere of transformation capacity, the company said in a statement, adding it will invest close to $2 billion in Brazilian power transmission sector.
Brazil has been historically dependent on large hydro power plants for electricity supply and is currently witnessing a shift towards renewable energy. New power transmission projects are expected to help move renewable power from northern and north-eastern parts of the country to the southern and south-eastern regions where the load centers are located.
“Brazil requires an incremental 61,800 Kilometer in transmission lines, and an increase of 199,200 MVA capacity. This translates into an investment of around $30.8 billion in the ten-year period (2017-26). This makes the market very attractive to us and we have already committed around $1.7 billion of the planned $4 billion in the region,” Pratik Agarwal, Group Chief Executive Officer (CEO) of Sterlite Power, said.
Brazil’s power consumption is expected to growth at an annual rate of 3.7 per cent to 741 Terra Watt Hour (TWh) by 2026. That nation’s government has planned a 64.1 Gigawatt expansion in the installed capacity of the National Interconnected System (SIN) in order to cater to this jump in demand over the next ten years.
Source: energy.economictimes.indiatimes
