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Brazil’s state-run energy group Eletrobras announced plans to invest $5.3 billion to upgrade and modernize its electric power infrastructure next year.
The forecast outlay represents an increase of $790 million on the 2014 figure.
The Rio de Janeiro-based firm said it is also close to implementing a 15-year strategic plan, approved by the company’s board in November.
“The plan proposes a bold vision for the company: to be among the world’s three cleanest energy companies and in the top 10 for size,” according to Eletrobras.
Among Eletrobras’ most important strategic projects is the 500 kV Brazil-Uruguay link, due online in June.
Eletrobras and its subsidiary Eletrosul have already finished work on the 230 kV, 1.8 mile transmission line linking Presidente Màƒ©dici to Candiota and a 500 kV, 37 mile line between Candiota and the border city of Aceguàƒ¡.
According to Eletrobras, the $4.8 million project will be capable of providing up to a third of Uruguay’s electricity needs.
Eletrobras’ project pipeline for new generation plants due online by 2019 stands at 22.4 GW.
The figure includes plants totaling 12 GW in which Eletrobras acts as operator.
“These investments should take the company’s installed capacity from 43 GW to 56.4 GW,” Eletrobras said.
An additional 23.1 GW of installed capacity is under consideration from future projects, with planned investments of $30.5 billion.