Juba-Jauru-Maggi-Nova Mutum Transmission Line

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In September 2007, Consorcio Jauru, an association of the state-owned Eletrobras (45%), Terna Participacoes (35%) and the Bimetal (20%), was awarded in a competitive bidding process the 30-year contract to build and operate 386-km of transmission lines and two substations located in the state of Mato Grosso. The transmission lines were set to run across the municipalities of Juba,Jauru, Maggi and Nova Mutum, allowing the transmission of energy generated by small hydro power plants located in the region. Besides Consorcio Jauru, four other companies took part in the first stage of the contest, though only two participated in the final stage of the process: Cymi Holding and Cobra Instalaciones y Servicios. The bidding criteria set by the federal regulatory agency ANEEL was the lowest required annual revenue. Consorcio Jauru presented the lowest offer, a total value of US$ 7.5 million (BRL 17.2 million), 53.5% the ceiling set by the regulatory agency. The contract was signed in March 2008, and the sponsors created the company Jauru Transmissora de Energia to lead the project during the 30-year contract period. The project company name was later changed into Brasnorte Transmissora de Energia S.A. In August 2009, the shareholding structure was modified as follows: Eletrobras (49.71%), Terna Participacoes (38.67%) and the Brazilian company Bimetal (11.62%). Terna Participações denomination was then changed into Transmissora Alianca de Energia Eletrica S.A. and is currently owned by Fundo de Investimentos em Participacoes Coliseu (33,6%), the state-owned Cemig Geracao e Transmissao S.A. (32,3%), Alterosa (29.42%) and other small investors (4.72%). The sponsor committed to invest US$ 109 million (BRL 218 million) in the transmission line. The construction works commenced in March 2008, but financial closure was only achieved in July 2009, when the sponsor was granted a US$ 61.7 million (BRL 123.4 million) loan from Banco da Amazonia. The remaining cost was set to be financed with the sponsors’ internal resources. Construction works were concluded in September 2009.