The Brazil-based subsidiary of Sterlite Power will be undertaking additional capital expenditure of around Rs.250 crore in two of its concessions in the South American nation.
This capex will be incurred in two concessions – Solaris and Borborema – and involves extension in project scope. The requests for an authorizing resolution for the construction of an additional scope came from the National Electric Energy Agency (ANEEL), the grantor of concession.
The projects are being developed by two special purpose vehicles Solaris Transmissao De Energia S.A (“Solaris Projects”), in the state of Minas Gerais; and Borborema Transmissao De Energia S.A (“Borborema Projects”), in Paraíba.
Both these are subsidiaries of Sterlite Power Brasil (officially, Sterlite Brazil Participações S.A.), which, in turn, is a subsidiary of Sterlite Power (officially, Sterlite Power Transmission Ltd).
The company’s portfolio is located strategically in important areas from the perspective of transmission connectivity and intends to continue to increase its capacity, Sterlite Power said.
Also read: Sterlite Power Wins Transmission Project In Northeast, In TBCB Mode
Solaris and Borborema
The Solaris project, coming up in the state of Minas Gerais, involves the construction of 205.2 km of transmission lines and a 230kV substation in Jaíba, in addition to the 500kV Janaúba-3 substation. The Borborema project consist of transmission line, between the substations of Campina Grande III and João Pessoa II, with an approximate length of 123 km.
Featured photograph for representation only
