Companhia Transirape de Transmissao

Active

In november 2004, Consórcio Transleste 2 (a partnership of CEMIG, 24,5%; Alusa, 41%; Furnas, 24,5%; and Orteng, 10%) was awarded in a competitive bidding process the contract to build and operate a 65- km transmission line located in the state of Minas Gerais (Irape – Aracuai). Besides Consórcio Transleste 2, only Abengoa S.A. placed another offer for the transmission line. The bidding criteria set by the regulatory agency ANEEL was the lowest required annual revenue. Cia. Técnica de Engenharia Elétrica presented the lowest offer, a total value of US$ 3.5 million (BRL 10.3 million), 11% below the ceiling set by the regulatory agency. The contract was signed in March 2007, and the sponsors created the company Companhia Transirapé de Transmissão to lead the project during the 30-year contract period. The sponsor committed to invest US$ 29.7 million (BRL 64.8 million) in the transmission line. The construction works commenced in 2005, but financial closure was only achieved in September 2006, when the sponsor was granted a US$ 20.6 million (BRL 44.8 million) loan from BNDES. The remaining cost was set to be financed with the sponsors’ internal resources. Operations was fully operational in 2008. In October 2014, BNDES granted an additional loan of US$ 2.5 million (BRL 5.9 million).