The National Electric Energy Agency in Brazil, ANEEL, held an energy auction today where 31 of the 35 lots made available for the construction, operation and maintenance of energy transmission lines were authorized. Government officials said investments are expected to total R$12.7 billion from these concessions.

“The quality of [participating] companies, their appetite and the volume of investment shows we are coming out of the recession. I am extremely excited and I leave here confident,” said Brazil’s Minister of Mines and Energy, Fernando Coelho Filho, told reporters after the auction.

“This was the result of a lot of conversation and collective work. Companies have shown very clear confidence in the country,” added Coelho.

The Monday concession bids are for the construction, operation and maintenance of 7,400 km of transmission lines and substations expected to produce 13.2 thousand megavolts (MVA).

Among the transmission lines to be constructed are lines that will serve cities in twenty states. In all 21 consortium groups and fifty individual companies participated in the auction. All available substations were auctioned off, as well as 96 percent of the offered lines. An average of seven competitors participated bid in each of the lots offered.

“The country still has many difficulties in the political and economic scenario, but here we are talking about investments of thirty years, of people and companies that bet on the future of Brazil and who believe that the country has begun to recover,” concluded the Minister.

Among the new companies participating was India’s Saterlite Power, who competed in today’s auction. According to ANEEL, the company already has large investments in transmission lines in India is now trying to expand its operations to Brazil.