A consortium with Brazilian power company Alupar BMFBOVESPA:ALUP3 won the largest lot in a power transmission auction held on Friday in the country, while Axia Energia BMFBOVESPA:AXIA3 secured the remaining three projects.
The consortium formed by Alupar and the Infra II Investment fund secured the installation of underground transmission lines in the Sao Paulo metropolitan area with a proposal offering to take 48% of the maximum revenue it could earn from the project.
It is expected to require investments of 1.1 billion reais ($212.9 million), the largest amount among the lots auctioned on Friday.
Axia Energia won the remaining projects, which are located in Sao Paulo, Mato Grosso and Mato Grosso do Sul states, with a total of 668 million reais in required investments.
Axia's winning bids offered a more than 50% discount from the allowed revenues in the three cases, according to the results released in Sao Paulo at the B3 stock exchange.
Brazil reauctioned the four power transmission projects as MEZ Energia, a company that had won the concessions in 2020 and 2021, returned them to the government after failing to move forward with them.
($1 = 5.1675 reais)