ACS reaches €3,000 M in joint portfolio in the Brazil’s transmission lines market
ACS Group, through Cobra, has been awarded with the transmission lines of Brazil, after a high voltage lines' macro-bid tendered by the country's power regulator: ANEEL. It was specifically awarded with the lot 32, worth €126 million (USD137 million) in the state of Rondonia. Cobra will build and operate the 310 Km long line for the next 30 years.
At the end of 2016, ACS was also awarded with other transmission lines worth €659 million (USD718 million), through its subsidiary CYMI Holding, together with funds controlled by its strategic partner in the Brazilian transmission.
This last contest was organized by the National Electric Power Agency (Agência Nacional de Energía Eléctrica, hereinafter ANEEL), and took place in Bovespa Headquarters (Sao Paulo).
In all, 24 lots were tendered. CYMI was awarded with lots number 10, 13, and 20. The construction projects consist of more than 1,370 km long of 500 Kw lines, plus the execution of two new substations, together with the expansion of seven other substations.
The lines will go through Brazil's Northeast region (The states of Bahía, Piauí, Paraíba, Ceará, and Río Grande do Norte), and the state of Minas Gerais.
All these new concessions, achieved together with the Canadian investment fund Brookfield, will be incorporated to the previous projects that the CYMI-Brookfield tandem has in Brazil, consisting of more than 2,900 Km long of high voltage lines and 13 new substations, and a portfolio worth 6, 000 million reales, about €1,700 million (USD 1,850 million).
With these projects and the ones from the other ACS subsidiary, Cobra (which was also awarded with the construction contract of the substation integrated in the lot 18, given to Patria Fund), ACS group is firmly consolidated as the largest transmission lines contractor of the country.
The joint portfolio of ACS in the electric transmission market in Brazil reaches the €3,000 million (USD 3,260 million), and foresees a great business activity for its industrial group in the coming years.
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