Paraiso-Acu Transmissora de Energia

active

In July 2002, Hot line Construcoes was awarded in a competitive bidding process organized by the regulatory agency ANEEL the 30-year contract to build and operate a 135-km transmission line located in the state of Rio Grande do Norte(Paraiso-Acu). No information was available on the other bidders. The bidding criteria set by ANEEL was the lowest required annual revenue. Hot Line presented the lowest offer, a total value of US$ 2.4 million (BRL 6.9 million), 0,01% below the ceiling set by the regulatory agency. The contract was signed in December 2002, and the sponsors created the company Goiana Transmissora de Energia S.A. - GTESA to lead the project during the 30-year contract period. The sponsor committed to invest US$ 10.4 million (BRL 30.4 million) in the transmission line, which became operational in September 2004. In November 2007, Transmissora Sudeste Nordeste S.A. (TSN) acquired GTESA and PATESA, which also belonged to Hot Line, in a deal worth US$ 30.4 million (BRL 89.8 million). TSN is a wholly-owned subsidiary of TAESA.