The BNDES Board approved financing of R$ 1.76 billion for Chimarrão Transmissora de Energia S.A. The funds will be invested in the implementation of power transmission facilities in the interior of Rio Grande do Sul.

Chimarrão Transmissora de Energia S.A is a Special Purpose Company (SPE) formed by Cymi Construções e Participacoes, a member of the Spanish group ACS, and the Brasil Energia equity fund, a member of the Canadian group Brookfield. SPE obtained the right to operate the service for 30 years by winning the 10th lot of ANEEL Transmission Auction 004/2018, held in December 2018.

The BNDES credit, structured with a 24-year term (amortization and grace period), will finance the construction of civil works and the acquisition of national materials and equipment necessary for the implementation of the project.

The total investment of the project is R $ 2.24 billion, in line with its large size, as it will cover approximately 1,200 kilometers in length, crossing 43 cities in Rio Grande do Sul.

The main energy benefit of the project will be the disposal of 6,475 MW, mainly from wind farms in Rio Grande do Sul. This amount has the potential to supply approximately 12 million families.

The project will expand, in free and regulated markets, the availability of renewable energy produced by plants in the south of the country. In addition, approximately 9,450 direct and indirect jobs should be generated during construction and 175 after completion, scheduled for the first half of 2022.