São Paulo Sets Date To Privatize Energy Supplier

Brazil’s richest province, São Paulo, has set a date of February next year to privatize power transmission company Companhia de Transmissão de Energia Eletrica Paulista SA (Cteep), in which it has a 36% controlling stake. The province expects the sale to raise around $435 million and plans to use the money to capitalize the state’s indebted generation company Companhia Energetica de São Paulo (Cesp). Meanwhile, Brazil’s federal government has said it is preparing to tender 32 new power generation projects over the next two years. The projects have a combined investment of $20.5 billion.