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Shangai Electric to build transmission lines in South Brazil

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The National Electric Energy Agency (Aneel) approved on Monday (Oct.24) the transfer of control of transmission lines owned by Eletrosul to a subsidiary of China’s Shanghai Electric Group Co Ltd.  The operation will involve construction of 17 lines and 8 substations in the region of Porto Alegre (capital of Rio Grande do Sul state).

Shanghai Eletric will have six months to create a Specific Purpose Company (SPE). Eletrosul will be a shareholder of this new company, with a participation limited to the amount invested up tp the transfer of control to the SPE.

The deadline for completing the work will be 48 months, and time concession time 27 years.