A Memorandum of Understanding was signed by State Grid Brazil Holding (SGBH) and the New Development Bank (NDB) to finance the Graça Aranha Silvânia Energy Transmission (GATE) project. The ceremony took place on July 3 at the company's headquarters in Rio de Janeiro and was attended by the bank's president, Dilma Rousseff, the CEO of SGID, and company representatives.
The bank was created to foster infrastructure projects and sustainable growth in BRICS countries. The agreement highlights the mutual trust between the company and the NDB, and also represents progress toward the viability of GATE, Brazil's largest electricity transmission concession.
Scheduled for completion in 2029, the project will expand the capacity to transport energy generated in the Northeast—from wind, solar, and hydroelectric sources—to the Central-West and Southeast regions of the country. In total, the project will cover 42 municipalities in three states.
