Eletrobras, Energisa and EDP win transmission auction lots

Eletrobras (ELET3) won at least 3 of the 15 lots being bid on in this Thursday’s transmission auction (28), including the project with the second highest investment value offered in the event.

The state-owned company won lot 5, which foresees R$ 2.65 billion in investments for the construction of 1,116 kilometers of transmission lines between the States of Ceará, Paraíba, Pernambuco, Alagoas, Bahia and Piauí, in addition to substations with transformation capacity of 3,900 mega-volt-amperes (MVA). The winning offer was a discount of 31.14%, for R$302 million in permitted annual revenue (RAP).

Lot 1 was purchased by Eletrobras by offering an allowed annual revenue (RAP) of R$ 162.38 million, which represents a discount of 42.93% compared to the maximum value established by the regulator.

The dispute for the asset included offers from four other bidders: Energisa, Engie Brasil Energia, a consortium between Alupar and Equatorial and the Spanish company Cymi.

Lot 1 foresees the construction of 538 kilometers of transmission lines between Ceará and Piauí, with R$1.77 billion in estimated investments.

Eletrobras also won the dispute for lot 9, by offering a RAP of R$ 11.637 million, a discount of 59.39% compared to the maximum value. Lot 9 foresees the implementation of a substation with a transformation capacity of 300 mega-volt-amperes (MVA) and sections of transmission lines in Santa Catarina, with R$190.61 million in estimated investments.

Auction: Energisa and EDP

Meanwhile, Energisa (ENGI3) won lot 12 for energy transmission, offering an allowed annual revenue (RAP) of R$ 112.5 million, which represents a discount of 29.99% compared to the maximum value established by regulator.

The dispute for lot 12 was open outcry, with the participation of a consortium composed of Alupar and Equatorial Energia.

Lot 12 foresees the construction of 394 kilometers of transmission lines between Maranhão and Piauí, with R$932.52 million in estimated investments.

EDP ​​(ENBR3) has so far won two lots in the energy transmission auction held by the Brazilian government.

The company of Portuguese origin won the dispute for lot 2, one of the largest bids in the event, by offering R$ 135 million in permitted annual revenue (RAP), equivalent to a discount of 45.97% compared to the maximum value established.

Lot 2 foresees the construction of 537 kilometers of transmission lines in Piauí, with R$1.54 billion in estimated investments.

In addition, EDP won lot 7, with a discount of 41.05%, for R$51 million in RAP. The project involves the construction of 390 kilometers of transmission lines between the States of Bahia, Tocantins and Piauí and substations with a transformation capacity of 300 mega-volt-amperes (MVA), with R$528.67 million in estimated investments.

Biggest batch

The biggest lot in the auction was won by a BTG Pactual investment fund, offering an allowed annual revenue (RAP) of R$284.388 million, which represents a discount of 49.60% compared to the maximum value established by the regulator.

BTG competed for the asset with four other groups: Neoenergia, Engie, Cymi and a consortium composed of Alupar and Equatorial. Eletrobras qualified for the dynamics, but did not offer a proposal.

Lot 6 foresees the construction of 951 kilometers of transmission lines between the States of Bahia and Minas Gerais, with R$3.4 billion in estimated investments.

On a consolidated basis, the investments planned by the government in the lots offered in this transmission auction should reach R$ 18.2 billion

(With Reuters)