Sterlite Power commissions first project in Brazil
According to the statement, the company began construction work on Arcoverde project in May 2018.
According to the statement, the company began construction work on Arcoverde project in May 2018. The project boasts 400 MVA in power, covers 139 km of transmission lines, 281 towers and a new substation (Arcoverde II), besides expanding two other substations in the region.
The project's capital expenditure is estimated by Brazilian Electricity Regulatory Agency, ANEEL at 164 million Brazilian real (over Rs 280 crore). It will generate annual permitted revenue of 24.6 million Brazilian real.
"This is an important milestone for us. We are confident about our operations in Brazil and for delivering the first project 28 months ahead of the schedule set by ANEEL,' said Rui Chammas, CEO of Sterlite Power in Brazil.