ELECNOR—Elecnor is awarded a new electrical transmission contract in Brazil
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June 8, 2012

Elecnor has been awarded a contract in the most recent round of power transmission tenders made by the Brazilian Electrical Regulatory Agency (ANEEL) in Sao Paulo, Brazil.

The contract involves a 200 MVA substation in the state of Mato Grosso do Sul and an investment of approximately 30 million Brazilian reais, equivalent to 12 million euros. This investment will be financed as capital contributions and long-term non-recourse debt. The construction period is 24 months and it is estimated that the project will create jobs for 140 employees directly.

The concession contracts will last for 30 years and form part of the Growth Acceleration Programme implemented by the Brazilian government in order to improve the quality and reliability of the country's electricity supply.

This new investment contributes to Elecnor's growth in the concession market, in keeping with the company's strategic objectives. Similarly, it reinforces its presence in the Brazilian electrical transmission market, making it one of the leading private operators with a total of 11 contracts totalling 9.340 MVA and 3.734 kilometres of lines. It has also been growing in the Brazilian renewable sector, with a total of 328 MW of wind power currently working and under construction.