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Sterlite targets auctions to expand power transmission portfolio

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With an eye on the mega auctions of power transmission expected in Brazil in 2023, the transmission company Sterlite Power Brasil signaled it is ready to increase its portfolio. The Indian company is known for its aggressive bids and said it is studying the best assets that will be put on the block.In the last auction in December 2022, the company was a bit more conservative and did not win any lots. The company had 10 assets in its portfolio but lost steam when it restructured its portfolio and sold some assets.The company is not planning to sell any assets now. On the contrary, it is working on accelerating construction works and says it has the funds needed for new investments. The company’s CEO, Amitabh Prasad, told Valor that the company has its feet on the ground, but is very interested in new assets and will participate in the auctions. "We are studying all the lots. For example, there are specific projects to connect consumption areas, and others to transport renewable power," he said.According to data by Empresa de Pesquisas Energéticas (EPE), Brazil will require at least R$50 billion in investments by 2030, including the auctions of the Brazilian Electricity Regulatory Agency (Aneel) this year.The first transmission auction of the year is scheduled for June and will include the construction of more than 6,000 kilometers of transmission lines, as well as the modernization of several existing substations. A second auction is scheduled for December, but experts do not rule out the possibility of a third one. In the running are long-time competitors, such as Isa Cteep, Engie, Cemig, and subsidiaries of Eletrobras, Copel, Taesa, and Alupar, among others.Mr. Prasad points out that the expansion is necessary for Brazil because of the significant increase in solar and wind generation in the coming years, in addition to the regional power transmission. The company’s global...

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