South America helping underpin growth for Spain’s Redeia
The startup of new power transmission infrastructure in South America boosted results for Spanish group Redeia.
In its latest earnings report, the company, which manages Latin America operations through Redinter, highlighted the January startup of Transmisora Eléctrica del Sur 4 (Tesur 4) in Peru.
Tesur 4 comprises the 128km, 220 kV Tintaya-Azángaro line, which spans the Cusco and Puno regions and included the expansion of the Tintaya Nueva and Azángaro Nueva (Pumiri) substations.
The local unit signed a 30-year concession contract for Tintaya-Azángaro in February 2018 after winning the project in November 2017.
Redeia also pointed to Red Eléctrica del Norte 2’s (Redenor 2) expansion of the Centinela substation in Chile’s northern region of Antofagasta.
Other regional contributors are the company’s participation in Brazil’s Argo Energía and Transmisora Eléctrica del Norte (TEN) in Chile.
International power transmission revenue for Redeia in 1H23 rose 21.2% year-on-year to 69.8mn euros (US$76.7mn). Total revenue grew 3.2% to 1.06bn euros.
“Latin America is a priority for Redeia,” group president Beatriz Corredor Sierra said previously.
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