Contact for press

You can contact us by:

Marián Ariza Communication Department.

Media Kit

Follow us on:

Keep up-to-date on the latest at the Abengoa website:

October

Abengoa sells its stake in two transmission lines in Brazil to State Grid International

October 11, 2010

11 October 2010. Abengoa Brasil has finalised an agreement with State Grid International to sell its 25% stake in ETEE (Expansión Transmissora de Energía Eléctrica S.A.) and ETIM (Expansión Transmissão Itumbiara Marimbondo).

ETEE and ETIM hold the concession for the 787 kilometre transmission line that connects the hydraulic power stations of the city of Itumbiara in the state of Goiás, and Marimbondo in the state of Minas Gerais.

Abengoa has been a shareholder in both projects since 2002, when both concessions were awarded to Abengoa and other partners.

The parties reached agreement on the sale, worth €90 million, on 27 July, although the completion of the sale is still subject to customary closing conditions, including approvals by the regulators and the authorities.

The general manager of Abengoa Brasil, Antonio Merino Ciudad, pointed out that “this deal reflects the huge value of the projects that we develop and which is consistent with our asset rotation strategy when conditions are right. The sale will allow us to focus our efforts on the major transmission projects currently being developed and to strengthen our commitment to remaining in the Brazilian market through new businesses”.

Abengoa has had a permanent presence in Brazil for more than 30 years, where it operates 11 transmission line concessions that have a combined length of more than 4,000 kilometres. It also has two bioethanol production plants in the country and has carried out an extensive range of projects for its Brazilian clients.

Abengoa Brasil is owned by Abeinsa, the company at the head of Abengoa’s industrial engineering and construction business group. Abeinsa is present on four continents and is currently one of the leading companies in the international engineering and construction market for projects that generate sustainable development (www.abeinsa.com). The publication Engineering News Record (ENR) ranks Abeinsa as the largest construction contractor in the world for electricity transmission and distribution infrastructures, and the third largest for electrical infrastructures. It is also the fourth largest international contractor in the Latin American and Caribbean region.

Abengoa is a technology company that applies innovative solutions for sustainable development in the infrastructures, environment and energy sectors. It is a listed company and its five business groups of Solar Energy, Bioenergy, Environmental Services, Information Technology, and Industrial Engineering and Construction are present in more than 70 countries (www.abengoa.com).

Share this news


© 2019 Abengoa. All rights reserved