Aneel approves US$71.6mn CTEEP substation spending

Brazil's electricity regulator Aneel has authorized Sao Paulo state-controlled transmission company CTEEP to invest 220mn reais (US$71.6mn) in capacity expansion at its substations, the agency said in a statement. The investment aims to improve power transmission reliability. CTEEP will buy and install new equipment, such as transformers and connection modules, in substations in 15 towns throughout Sao Paulo state. The new equipment should start commercial operations between October 2005 and October 2007. CTEEP has 10,981km of transmission lines and 72 substations, mainly in Sao Paulo state. The Sao Paulo state government owns 36% of total shares and 64% of voting shares.