PTI: May 15, 2019
New Delhi: Sterlite Power Wednesday said it has delivered first power transmission project in Brazil 28 months ahead of schedule.
"Sterlite Power celebrates the kickoff of operations in the Arcoverde project. This is the first of 10 projects assigned to the company in Brazil," a company statement said.
According to the statement, the company began construction work on Arcoverde project in May 2018.
The project boasts 400 MVA in power, covers 139 km of transmission lines, 281 towers and a new substation (Arcoverde II), besides expanding two other substations in the region.
The project's capital expenditure is estimated by Brazilian Electricity Regulatory Agency, ANEEL at 164 million Brazilian real (over Rs 280 crore). It will generate annual permitted revenue of 24.6 million Brazilian real.
"This is an important milestone for us. We are confident about our operations in Brazil and for delivering the first project 28 months ahead of the schedule set by ANEEL,' said Rui Chammas, CEO of Sterlite Power in Brazil.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.