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Spanish groups lead Brazil power transmission auction, committing $1.6 billion

By Reuters News

SAO PAULO, Oct 30 (Reuters) - Spanish power companies Celeo, Cymi, Cox Energy COXGA.MC and Iberdrola IBE.MC dominated a power transmission auction in Brazil on Friday, winning seven of eight projects to expand and strengthen the South American country's power grid.

The Brazilian units of the Spanish groups committed an estimated 8.56 billion reais ($1.59 billion) in investments, out of the auction's total 8.9 billion reais.

  • Celeo won the largest project in the auction, which is set to require 4.1 billion reais in investments to improve electricity service in Mato Grosso do Sul state

  • The company also won a project in Rondonia state with some 753 million reais in planned investments

  • Cymi secured a project in Sao Paulo state for about 1.1 billion reais in planned investments and another in Parana state worth 982.5 million reais

  • Neoenergia, controlled by Iberdrola, won projects in Bahia and Paraiba states totaling 1.16 billion reais in investments

  • Cox secured a lot worth 480 million reais in investments in Parana state

  • Portugal's EDP EDP.LS closed the winners' list with a project between Goias and Bahia states worth 317 million reais in investments

($1 = 5.3851 reais)

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