India's largest power transmission company Sterlite Power Grid Ventures Ltd will invest around $1 billion per year in the next few years to build power lines in Brazil, a source with direct knowledge of the plan told Reuters on Wednesday.

The source, who asked not to be named because he is not authorized to speak publicly about the plan, said Sterlite is looking to build a large portfolio of power transmission projects in Brazil as part of a long-term strategy in the country. Sterlite is also a major manufacturer of equipment for the electricity industry.