IDB approves US$200m for energy transmission project in Brazil
The Inter-American Development Bank announced today the approval of a US$200 million financing to ATE III Transmissora de Energia S.A. for development, construction, operation and maintenance of transmission lines in the states of Pará and Tocantins, vital to the integration of Brazil’s north and southeastern regions. The IDB financing will include an “A-loan” of up to US$95.4 million from the Bank’s ordinary capital and a syndicated “B-loan” of approximately US$104.6 million, consisting of resources from financial institutions that will subscribe participation agreements with the IDB.
The ATE III transmission project includes:
- A 500 kilovolt, 40 km transmission line connecting the Marabá and Itacaiúnas substations in Pará.
- A 230 kilovolt, 110 km transmission line connecting the Itacaiúnas and Carajás substations in Pará.
- A 500 kilovolt, 304 km transmission line connecting the Itacaiúnas and Colinas substations in Pará and Tocantins.
- A 500/230 kilovolt Itacaiúnas substation in the state of Pará.
- Enlargement of three existing substations along the three transmission lines.
“The project will bring, together with other investments in the states of Pará and Tocantins, electricity service to approximately 223,000 households in both urban and rural areas in the years 2008 and 2009,” said IDB team leader Rocío Medina-Bolívar. “IDB financing will help increase the transmission capacity between the north and southeastern regions, generate storage gain, avoid greenhouse emissions, reinforce the interconnection transmission system and improve the reliability of the integrated electricity system.”
The project was awarded to the Spanish company Abengoa S.A. through a public bidding process. Abengoa is developing the project through its Brazilian subsidiary ATE III Transmissora de Energia S.A.
The total project cost is estimated in US$386.9 million.
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