By Brazil Stock Guide – Alupar Investimento S.A. (B3: ALUP11) said on Monday that Transnorte Energia (TNE), its joint venture with Eletronorte, has received authorization from Brazil’s national grid operator (ONS) to begin commercial operations. Starting September 16, 2025, the project will generate BRL 561.7 million ($108 million) in annual permitted revenue (RAP) for the 2025/2026 tariff cycle.
The project comprises 724 km of 500 kV double-circuit transmission lines linking Amazonas to Roraima. It represents the final step in connecting Brazil’s last isolated state to the National Interconnected System (SIN), cutting reliance on costly diesel-fired generation and ensuring cleaner, more stable and cheaper energy for the region.
The venture was originally awarded in 2011 at ANEEL’s transmission auction and only came online in 2025 — 14 years later. Along the way, it faced environmental licensing hurdles, including compensatory works in Indigenous Lands, as well as legal disputes and international arbitration initiated in 2022. The financial rebalance of the concession required amendments to the original 2012 contract. The turning point came in June 2025, when regulator ANEEL issued Ruling No. 1,991, closing the arbitration and paving the way for completion. In July 2025, a second amendment formalized the settlement.
Alupar called the TNE line “an emblematic project for Brazil’s power sector.” Beyond the historic integration of Roraima into the SIN, the line boosts supply security, reduces blackout risks, phases out emergency diesel plants, and provides cheaper, cleaner power to support regional economic development. With the project’s completion, all Brazilian states are now part of a single interconnected grid.
The company stressed that completion of the project required overcoming complex technical, logistical and environmental challenges, made possible by alignment between public and private stakeholders. Alupar reaffirmed its focus on sustainable growth, financial discipline, operational excellence and long-term value creation.