Engie Brasil takes over Transmission and substation lines PPP in Pará and Tocantins

ENGIE Transmission de Energia has signed a Share Purchase Agreement with Sterlite Brazil Participações SA. Sterlite Novo Estado Energia SA acted as an intervening party, which governs the acquisition by ENGIE Transmission of all shares of Novo Estado held by Sterlite Participations.

Closing of the operation provided for in the agreement is subject to the fulfillment of certain conditions precedent, including obtaining approval by the National Electric Energy Agency - ANEEL (ANEEL).

The acquisition price of 100% of Novo Estado shares will be up to BRL410 (US$100) million, subject to adjustments until the closing date of the transaction.

Sterlite Participações, through its parent company, was the winner of Lot 3 of ANEEL Transmission Auction held in December 2017 and which resulted in the signing of Concession Agreement. The purpose of this concession is the construction, operation, and maintenance of approximately 1,800 kilometers of transmission lines, a new substation and expansion of three other existing substations in the states of Pará and Tocantins. All installation permits for the project have already been obtained, and construction is expected to begin in 2020.