Jauru Transmissora de Energia

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In November 2006, Elecnor SA was awarded in a competitive bidding process organized by the regulatory agency ANEEL the contract to build and operate a 939 km transmission line located in the states of Mato Grosso and Rondonia (Jauru-Vilhena, Pimenta Bueno-JiParana, JiParana-Ariquemes, and Ariquemes-Samuel). Besides Elecnor, only Schahim Engenharia SA took part until the final stage of the bidding process. The bidding criteria set by ANEEL was the lowest required annual revenue. Elecnor presented the lowest offer, a total value of US$ 14.8 million (BRL 32.3 million), 51.01% below the ceiling set by the regulatory agency. The contract was signed in April 2007, and the sponsors created the company Jauru Transmissora de Energia to lead the project during the 30-year contract period (by that date, the project was wholly-owned by Plena Transmissora de Energia, a partnership of Elecnor, Cobra and Isolux, each holding one-third of the shares of Plena). Due to difficulties in getting environmental licenses, only one the section of the line connecting Jauru to Vilhena started operations in October 2009. The sponsor committed to invest US$ 202 million (BRL 404 million) in the 939-km transmission line. The construction works in the Jauru-Vilhena section, 354 km in length, commenced in November 2007. Financial closure for this section was only achieved in December 2009, when the sponsor was granted a US$ 53 million (BRL 107 million) loan from BNDES. The remaining cost was set to be financed with the sponsors’ internal resources. In March 2010, the shareholding structure was modified when a Chinese state – owned company, State Grid International Development (SGID), acquired the project company and other transmission projects from Plena Transmissora de Energia. SGID invested US$ 1.72 billion in the acquisition of Plena Transmissora de Energia (BRL 3.1 billion). In December 2012, BNDES granted an additional US$ 78.3 million (BRL 152.8 million) loan to the project sponsor. Construction works on the power plant were concluded in early 2013. Sponsor name needs to be fixed