ACS is awarded power lines in Brazil for 150 million euros
02.11.2016
The ACS Group, through its subsidiary CYMI Holding, and with funds controlled by its strategic partner in the Brazilian power sector, Brookfield, has won a contract for power transmission lines in Brazil for a total of 659 million euros.
The award announcement, called by Agência Nacional de Energía Eléctrica (ANEEL), was held at the headquarters of Bovespa (São Paulo), on Friday 28 of October.
In total, were 24 batches were tendered, of which batches 10, 13 and 20 were awarded to CYMI.
The construction projects comprise more than 1,370 kilometres of 500 kV power lines and of the execution of two new substations, in addition to the expansion a further seven substations.
The lines pass through the northeast region of Brazil (states of Bahía, Piauí, Paraíba, Ceará and Río Grande do Norte) and the state of Minas Gerais.
These new concessions, awarded jointly with the Canadian investment fund Brookfield, join the previous projects undertaken by the CYMI-Brookfield partnership in Brazil, comprising more than 2,900 kilometres of high voltage lines and 13 newly-built substations, and with a portfolio value of over 6 billion reales, around 1.7 billion euros.
With these projects and those already held by Cobra, another subsidiary of ACS, (which at the same tender won the contract for the construction of a substation in batch 18, awarded to the Patria fund), the ACS group has established itself as the largest power lines contractor in the country.
The joint portfolio of ACS in the Brazilian power transmission market exceeds 2.85 billion euros and enormous activity is predicted for this business and the Industrial group over the coming years in Brazil.
The award announcement, called by Agência Nacional de Energía Eléctrica (ANEEL), was held at the headquarters of Bovespa (São Paulo), on Friday 28 of October.
In total, were 24 batches were tendered, of which batches 10, 13 and 20 were awarded to CYMI.
The construction projects comprise more than 1,370 kilometres of 500 kV power lines and of the execution of two new substations, in addition to the expansion a further seven substations.
The lines pass through the northeast region of Brazil (states of Bahía, Piauí, Paraíba, Ceará and Río Grande do Norte) and the state of Minas Gerais.
These new concessions, awarded jointly with the Canadian investment fund Brookfield, join the previous projects undertaken by the CYMI-Brookfield partnership in Brazil, comprising more than 2,900 kilometres of high voltage lines and 13 newly-built substations, and with a portfolio value of over 6 billion reales, around 1.7 billion euros.
With these projects and those already held by Cobra, another subsidiary of ACS, (which at the same tender won the contract for the construction of a substation in batch 18, awarded to the Patria fund), the ACS group has established itself as the largest power lines contractor in the country.
The joint portfolio of ACS in the Brazilian power transmission market exceeds 2.85 billion euros and enormous activity is predicted for this business and the Industrial group over the coming years in Brazil.