Eletrobras takes controlling stake in Brazilian transmission project

Eletronorte, a subsidiary of Eletrobras, will acquire a controlling stake in the Linha Verde transmission line, which will be constructed in Brazil’s Amazon region.

Eletrobras has signed a $40m deal with Abengoa that commits the Spanish company to hand-over its 51 per cent stake in the special purpose entity (SPE) associated with the Linha Verde project.

Eletronorte will assume a 100 per cent interest in the SPE, which is responsible for the implementation, operation and maintenance of the 230 kV Porto Velho-Jauru line in Brazil’s northwest, reports BNamericas.

Based in Brasàƒ­lia, Eletronorte has an installed generation capacity of 9.7 GW and operates more than 9800 km of transmission lines.

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