Mumbai, 15 February 2022: Sterlite Brazil Participações S.A. (“Sterlite Brazil”), a subsidiary of Indian company Sterlite Power Transmission Limited (the “Company”), a company that develops transmission projects, completed the Vineyards project in Rio Grande do Sul. The third and last stretch of transmission line has 49km between the substations of Bagé2 and Candiota2, at 230 KV. With completion of this final stage, Vineyards project will reinforce the flow of energy in the region, ensuring greater robustness and flexibility to the system.
The Vineyards project includes the construction of 114 km of transmission lines, implementation of two new 496 MVA substations, and the expansion of four substations in the regions of Garibaldi, Bento Gonçalves, Lajeado, and Bagé. With the project in operation, it will benefit 18 cities in the region.
The project was part of the ten lots that the Indian company won at the auction in 2017. The RAP of the public notice was BRL 84 million. The first energization was in January 2020, 32 months before ANEEL's deadline; the second was brought forward in 14 months; and the third and final energization happened eight months ahead of schedule.
"The third stage of Vineyards was completed eight months before ANEEL's deadline, confirming Sterlite Power's commitment and excellence in its work," said, Amitabh Prasad, CEO of Sterlite Power in Brazil. Together with the environmental agency of Rio Grande do Sul - Henrique Luis Roessler State Environmental Protection Foundation (FEPAM) - the company replaced the 21.08 hectares related to the environmental suppression of this transmission line. "With the adoption of good environmental practices, we reduced the impact and recovered 100% of the forests in the project area," he further added.
In April, Sterlite Power announced an agreement with Vinci Energia in which the investment company invested BRL 149 million in the purchase of debentures convertible into shares of Vineyards.
About Sterlite Power:
Sterlite Power is a leading power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 circuit kms of transmission lines across India and Brazil. The Company has a portfolio of high-performance power conductors, EHV cables and OPGW. The company provides bespoke solutions for the upgrade, uprate and fiberzation of existing transmission infrastructure projects. It is the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (“InvIT”), listed on the BSE and NSE. The company was also recognised at The Economic Times Innovation Awards 2020 and is a recipient of awards from International Project Management Association (IPMA).
For more details, please visit https://www.sterlitepower.com/
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