India's Streeter Power wins $1 billion transmission project in Brazil

India's Streeter Power, a private Delhi-based power transmission company, announced that it has won six new transmission projects
worth $1 billion at a recently concluded auction in Brazil.

India's Streeter Power wins $1 billion transmission project in Brazil

The projects include the construction of 23 substations, 2,000 kilometers of transmission lines, and 5,500 megavolt-amperes of conversion capacity
, the Strutt Power Company said in a statement.
The company will invest nearly $2 billion
in Brazilian power transmission.

Historically, Brazil has relied on large hydroelectric plants for electricity and is currently transitioning
to renewable energy.
The new transmission project is expected to help transfer renewable energy from the northern and northeastern regions to the southern and southeastern regions
where the load centers are located.

"Brazil needs to add 61,800 km of transmission lines and 199,200 megavolt-amperes of conversion capacity
.
This equates to an investment of about $30.
8 billion
over a ten-year period (2017-26).
This makes the Brazilian market very attractive to us, and the company has implemented its commitment to invest $1.
7 billion out of $4 billion
in Brazil.
Pratik Agarwal, CEO of Streeter Power, said
.

By 2026, electricity consumption in Brazil is expected to grow to 741 terawatt hours
at a rate of 3.
7% per year.
The government plans to expand the installed capacity of the National Interconnection System (SIN) by 64.
1 GW to cater to the sharp increase
in demand over the next decade.

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