Biggest energy auction in Brazil has Chinese company as winner and 40% discount

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Chinese state-owned company State Grid took the main auction lot. Two other lots were also sold, with discounts of up to 47%. Extreme heat wave in Brazil leads to second day of record in electricity consumption Jornal Nacional/ Reproduction The biggest energy transmission auction ever held in Brazil was won by the Chinese State Grid, which took the main project – with expected contributions of R$ 18 billion -, the Spanish Celeo Redes and the Brazilian Alupar in a consortium with the Mercury fund. This Friday’s tender (15) guaranteed the contracting of R$21.7 billion in investments in energy transmission lines, which will expand the capacity to flow renewable energy generated in the Northeast to load centers in the Southeast. Lot 1 The main project offered, a direct current transmission bipole, was purchased by State Grid, which offered an allowed annual revenue (RAP) of R$ 1.94 billion for the project, representing a discount of 39.90% compared to the maximum value established. The main project offered, which passes through Maranhão, Tocantins and Goiás, is a direct current transmission bipole and was won by the Chinese State Grid. The business discount was around 40% and the permitted annual revenue (RAP) offered was R$1.94 billion. RAP is the remuneration that the company receives for the services that will be provided and, in this type of auction, whoever offers the lowest value wins. The maximum RAP allowed for this project was R$3.2 billion. The Chinese company will have to make investments of around R$18 billion to build the bipole, with an expected implementation period of 72 months. State Grid is one of the largest groups in the Brazilian transmission sector, controlling 24 concessionaires, 19 of which are owned and 5 are joint ventures (joint ventures, in the literal translation). In total, the Brazilian subsidiary of the Chinese state-owned company operates more than 16 thousand kilometers of lines in the country. Lots 2 and 3 Alupar won lot 2 of the auction, offering a RAP of R$239.5 million, meaning a discount of 47.01%. Lot 3 was purchased by the Spanish company Celeo Redes, for R$ 101.2 million RAP, a discount of 42.39%. Eletrobras, highly anticipated in the competition as it is the largest transmission line operator in Brazil and has the financial strength to grow in the segment, participated in the dispute for lots 2 and 3, but did not present winning proposals. According to regulatory agency Aneel, the average auction discount calculated based on winning bids was 40.85%.

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