Eletrobras and BTG are the biggest winners of Aneel’s energy transmission mega-auction

A Eletrobras and the BTG Pactual were the biggest winners of this year’s first broadcast auction, held this Thursday, 28th, at B3, in Sao Paulo. All 15 lots placed by the government in the event were put out to bid, leading to the contracting of projects with a combined Annual Allowed Revenue (RAP) of R$ 1.77 billion, an average discount of 40.78% in relation to the maximum RAP of R$ 2.989 billion.

As a result, the discount obtained from the dispute reached R$1.219 billion. By the calculations of National Electric Energy Agency (Aneel)consumer savings reach R$30.178 billion over the 30 years of concession.

Once again, the transmission auction was heavily contested with the participation of at least 12 companies, despite the absence of some of the big names in the segment, such as Isa Cteep, Taesa, Cemig It is Copel. The expectation of Eletrobras’ leading role was confirmed, through its subsidiary Eletronorte, which was left with four lots (1, 3, 5 and 9), which corresponds to a RAP of R$590 million. With this, the company committed to an investment of R$5.59 billion.

BTG’s Investment Fund in Participations Development Warehouse (FIP Warehouse) took three lots, totaling RAP of R$559 million and requiring an investment estimated by Aneel at R$6.49 billion. The bank won the largest lot on offer, number 6, which alone will require R$ 3.4 billion in investments to build 951 kilometers of lines between Bahia It is Minas Gerais.

The Portuguese EDP was also among those that bought the most assets and was left with lots numbered 2, 7 and 13, in the states of PiauíBahia and Tocantins. The RAP obtained by the company is R$ 288.4 million, while the Energisa got lot 12, between Maranhão and Piauí, with a RAP of R$112.5 million and an investment of R$932.5 million.

In addition to these companies, the main names in the sector, Alupar won lot 15, in Minas Gerais. The asset has a RAP of R$154.4 million. The planned investment is R$1.39 billion. The Spanish company Cox, which acquired the Abengoa group last year, purchased lot 10, marking the resumption of its presence in the transmission segment as an operator.

The notice for this auction incorporated innovations regarding the technical qualifications of the contracted bidders, in order to avoid adventurers, even so, lesser-known companies in the electricity sector also obtained their assets, such as Brasiluz Eletrificação which obtained lot 8, in Rio de Janeiro; and Consórcio Paraná IV, which won lot 11, in Mato Grosso do Sul.

In the qualification phase, the winning companies must prove the implementation of similar work corresponding to at least 30% of the scope of those contracted in the disputed lot. In the case of a transmission line, this percentage will correspond to the length of the project at the same voltage. In relation to the substation or installation of equipment, the power of the project or equipment will be considered.

In total, 6,464 kilometers of new transmission lines were tendered, in addition to 9,200 mega-volt-amperes (MVA) in substation conversion capacity, totaling 69 assets between transmission lines and substations, divided into 15 lots located in 14 Brazilian states . Aneel’s forecast is that the construction of the projects will require R$18.2 billion in investments. The concessions will have a term of 30 years.