Aneel, Brazil’s electric energy agency, considered the auction to be a success, noting that 10 companies, domestic and foreign, had taken part in the auction.

Total investment in the lines – with an overall length of 750km – should total US$108M.

At the next auction, set for March 2002, maximum transmission tariffs for the lines could be reviewed to take into account currency fluctuations. The winner of the auction has to offer the lowest transmission tariff.

Among the successful bidders were Spain’s Instalaciones Inabensa, Brazil’s Cia de Energia Eletrica Paulista and Hot Line Construcoes Eletricas.