In Brazil, in March 2020, we completed the acquisition of 100 % of Argo Energia Empreendimentos e Participações S.A. (Argo), which was jointly acquired in equal proportions with the Spanish company Red Eléctrica Internacional. This acquisition represents an investment of approximately USD 370 million for the Group, thanks to which we added over 1,470 kilometers of transmission lines and 11 substations distributed in the states of Ceará, Maranhao, Minas Gerais, Piauí and Rondonia.
For three consecutive years, we have had zero fatal accidents in all the operations of GEB and its affiliates.
In Colombia, in Transmission, we remained the second-largest electric energy transporter, with 1,655 kilometers of lines in operation and 2,420 kilometers under construction, which are expected to begin operations in 2025.
The Transmission Branch launched the virtual inauguration of the La Loma 500-kilovolt substation at El Paso (Cesar), a key component for the renewable energy projects in this region of the country. Also, UPME awarded the Río Córdoba-Bonda project at 220 kilovolts, which consists of 30 kilometers of transmission lines from the municipality of Ciénaga to Santa Marta (Magdalena).
Our Transmission Branch began to recognize revenues from its new operating assets, such as the La Loma substation in the department of Cesar, and Altamira STR in Huila, as well as the acquisition of the substations at Betania (Huila) and Tuluní (Tolima).
Through our subsidiary TGI, the leader in natural gas transportation, we put into operation the loop at Puente Guillermo-La Belleza (Q4 2020) and the replacement of the branch at Galán-Casabe-Yondó (Q3 2020).
The achievements of Gebbras in Brazil include the restructuring of the company’s governance to achieve greater efficiency and lower costs, structuring of debt optimization operations at the four concessions (subject to corporate approval by both partners) and the negotiation and settlement of the arbitration proceedings that began during the construction stage.
Argo began partial operations at Argo II with the startup of the substations Ji Paraná, Ariquemes and Samuel, and their associated transmission lines (Ariquemes and Samuel, 320 km at 230 kV).
In Guatemala, our subsidiary Transportadora de Energía de Centroamérica (Trecsa) reported a 86.6 % completion rate in construction of the Electricity Transmission System Expansion Plan (PET), with 593 kilometers built, thereby consolidating the associated Chiantla substation, and it obtained construction licenses for Sololá.
The Eebis subsidiary in Guatemala obtained toll payments for the South Pacific Ring, the first project undertaken by private initiative to be 100 % completed in that country, which consists of 96 kilometers of transmission lines and seven substations that connect the sugar mills.
