Iberdrola Group Energizes Massive Transmission Line Project in Brazil [Yahoo! Finance]
IBERDROLA SA S/ADR (IBDRY)
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Source: Yahoo! Finance
Neoenergia on January 10 said the company has completed the final section of the Alto Paranaíba Project. The group said the installation is Iberdrola's largest transmission project in Brazil, and one of that country's biggest electricity delivery initiatives. The 1,600-kilometer (994 miles) transmission line features 3,250 towers, and has six substations along its route. Neogenergia said the project "significantly boosts power transmission capacity between the northern region of the state of Minas Gerais and São Paulo." São Paulo is the largest city by population in Brazil, with more than 20 million residents in its metropolitan area. The Alto Paranaíba infrastructure contract was awarded to Neogenergia in a transmission auction held by the National Electric Energy Agency (ANEEL) in 2022. Neoenergia said construction was completed more than 15 months ahead of the deadline set by ANEEL. The company said the project represents an investment of about 4.2 billion The works were completed
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