Sterlite Power wins six transmission projects in Brazil, to invest $2 bn

The six transmission projects that the company won entails 23 sub stations; 2,000 ckm of lines and 5,500 MVA of transformation capacity

Transmission company Sterlite Power on Wednesday said it has won six transmission projects in Brazil and will be investing close to $2 billion in the Brazilian power sector.

“In the recently concluded auction for transmission projects in Brazil, Sterlite Power emerged as the largest winner, clinching 6 lots at an investment of roughly $1 billion, securing about 65% of the capex under auction,” the company said in its statement. The company emerges as the first Indian company to invest close to $2 billion in Brazilian power transmission sector, the statement added.

Pratik Agarwal, group chief executive officer (CEO) for Sterlite