Spanish investors dominated the 2026 electric transmission auction, securing contracts worth R$ 8.9 billion in investment to expand the national grid across seven Brazilian states.
The Brazilian electric sector concluded its 2026 calendar with a transmission auction marked by the predominance of European capital. Conducted by Aneel at the B3 headquarters in São Paulo, the event ensured the feasibility of 1,866 km of new transmission lines and significant upgrades to the transformation capacity of the National Interconnected System (SIN).
In total, eight lots were won with an average discount of 50.1%, demonstrating the companies’ appetite for long‑term assets. Competition was fierce, highlighting the leadership of Spanish groups, which secured seven of the eight available concessions. Only one asset escaped Iberian dominance, going to the Portuguese EDP.
European dominance and its impact on infrastructure
Celeo Redes, Cymi, and Neoenergia Transmissão SPE emerged as the top winners, each taking two lots. Cox Brasil, the arm of Grupo Cox, also secured a project. The victory of EDP Transmissão Goiás in the most coveted asset of the round, which attracted eight bids, completed the roster of winners.
A point of concern for the market was the performance of Axia Energia (formerly Eletrobras). Despite its size and history in the sector, the company actively participated in the lot competition but failed to win any of the contests, reflecting the aggressiveness of the discount proposals from foreign competitors.
The Minister of Minas e Energia, Alexandre Silveira, stated:
We continue building, with planning, the electric system Brazil will need in the coming decades.
Projections and regional development
The schedule set by the federal government calls for contract signing on February 26, 2027. The timelines for asset operation range from 42 to 60 months, with the expectation that the construction cycle will create roughly 20,300 direct and indirect jobs nationwide.
The impact of these investments extends beyond the construction sector. With projects spread across strategic regions such as São Paulo’s capital, the Paraíba backcountry, and critical areas in Rondônia and the Central-South of Bahia, the government aims to strengthen the system’s resilience to climate change and prepare the grid for future demands, such as expanding infrastructure for Artificial Intelligence and Data Centers.
This latest auction of the year solidified the government’s strategy of prioritizing the lowest Annual Permitted Revenue (RAP) as the selection criterion, ensuring efficient resource management. In the coming years, the focus remains on integrating renewable sources and modernizing substation technology, guaranteeing that power flow keeps pace with national demand growth.