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    Iberdrola's Neoenergia wins power transmission auction in Brazil


    July 1, 2022 - CE Noticias Financieras

     

      By Leticia Fucuchima

      SÃO PAULO, Jul 1 (Reuters) - Brazilian power company Neoenergia SA, controlled by Spain's Iberdrola SA, on Thursday submitted the winning bid for the largest power transmission project auctioned by the South American country.

      The 13 auctioned blocks total 5,425 kilometers of transmission lines with an estimated investment of 15.3 billion reais (US$2.93 billion).

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

      The Iberdrola-controlled company also won the smaller Block 11, with 291 km of lines in Mato Grosso do Sul.ntes investments.

      (Reporting by Leticia Fucuchima; written by Gabriel Araujo and Peter Frontini; edited in Spanish by Benjamín Mejías Valencia)

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