In the recently concluded auction for transmission projects in Brazil, Sterlite Power has bagged six projects worth $1 billion, securing about 65 per cent of the capex under auction.
While most of Brazil’s power supply historically came from large hydro power plants, renewable energy is playing a major part replacing hydro and is meeting the rising power demand. This renewable capacity is generally located far away from the demand centres and requires long connections to be served by these lines.
These critical projects will largely help move renewable power from northern and northeastern parts of Brazil with southern and southeastern regions where the load centres are located. By 2026, the total electricity consumption of the country is forecasted to increase to 741 Terawatt Hours, indicating an average annual growth of 3.7per cent per annum. To cater to this jump in demand, a 64.1 GW expansion installed capacity of the National Interconnected System (SIN) is planned over the next 10-year period.
Pratik Agarwal, Group Chief Executive Officer, Sterlite Power said, “Brazil requires an incremental 61,800 km in transmission lines and an increase of 199,200 MVA capacity. This translates to an investment of Rs 119 billion ($30.8billion) in the 10-year period (2017-26). This makes the market very attractive to us and we have already committed $1.7 billion of the planned $4 billion in the region. We intend to develop global partnerships to execute our global portfolio of projects.”
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