October 11, 2019 |
Brazil's national development bank BNDES said it has approved a 24-year, BRL1.76bn ($428m) loan for Chimarrão Transmissora de Energia to build 1,200km of power lines in the southern state of Rio Grande do Sul.
Chimarrão, an special purpose vehicle owned by Cymi, a subsidiary of Spain's ACS, and Brasil Energia, part of Canada's Brookfield, plans to spend BRL2.24bn on the project, according to BNDES.
The SPV won the 30-year concession contract in a transmission line auction in December last year.
Brazil's national development bank approves a $428m loan for ACS and Brookfield to build 1,200km of power lines in Rio Grande do Sul