Spain’s Redeia will invest 200 million in Brazilian electric transport

Madrid, July 30 (EFE). Redeia (formerly Red Eléctrica de España) will invest €200 million in the purchase of a concession for the five power transmission lines in Brazil, a €815 million operation that will be carried out through its investee company Argo Energía and with it, Grupo Energía Bogotá.

As the company said in a statement on Saturday, Grupo Energía Bogotá will receive 37.5% of the franchise shares acquired from the Brasil Energia FIP investment fund, and Argo Energía – a company equally owned by Redeia and Grupo Energía Bogotá-, with the remaining 62.5 %.

Thus, Redeia will invest 200 million in the operation, which is the part that corresponds to its participation.

The five concessions obtained are in commercial operation, a total of 2,416 kilometers of transmission lines, twenty sub-stations, and customs revenue of 133 million euros.

Rédia highlighted that this operation will make Argo Energía one of the largest electricity transmission companies in Brazil, doubling its size and reaching a network of 4159 km in the country. EFE

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