Engie Transmissao, a subsidiary of Brazilian utility Engie Brasil Energia SA, has agreed to acquire a 100 percent stake in a company that holds a concession to build and operate around 1,800 kilometers (1,118 miles) of power lines in Para and Tocantins. The project will require an investment of €750 million ($828 million), reported Power Technology.
Engie Transmissao signed a share purchase and sale agreement with Sterlite Brazil Participacoes SA, targeting all shares of Sterlite Novo Estado Energia SA.
The sales price was $100.4 million.
For Engie, this is the second transmission project in Brazil. Its first project was Gralha Azul project that the company won in December 2017.