Sterlite Power-Vinci Energia Partner To Buy Vineyards Project
Sterlite Power has signed an agreement with Vinci Energia for the purchase of the Vineyards Project. In a statement, Sterlite Power said that through Vinci Infraestrutura Gestora de Recursos LTDA, announced the formalization of the commitment of first acquisition of issuance of debentures convertible into shares for the Vineyards Project. The project is in the final phase of implementation. It involves the construction of 112 km of transmission lines, the implementation of two new 496 MVA substations, and the expansion of four substations in the regions of Garibaldi, Bento Goncalves, Lajeado, and Bage.
The investment amount can be converted into shares with an 80 percent purchase option when the project is complete this year. The remaining 20 percent can be purchased within 190 days.