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Project Brief

Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature. Environmental and Social Review Summaries are provided for projects assigned an Environmental Assessment Category of A or B.


Project name
Artemis Transmissora de Energia SA
Project ID
Fiscal year
Not Active
Guarantee holder
Control y Montajes Industriales CYMI, SA
Investor country
Host country
Environmental category
Gross exposure
 $21.1 million
Project type
MIGA has provided $21.1 million in investment insurance to Control y Montajes Industriales CYMI, SA of Spain for its investments in the construction of an energy transmission line in Brazil. MIGA’s coverage is against the risks of currency transfer restriction and breach of contract, for up to 15 years.

This project is part of a larger undertaking involving the construction of five energy transmission lines in different parts of Brazil to reduce existing infrastructure bottlenecks in the country’s energy sector. Each of the lines involves a concession agreement with Brazil’s federal electricity regulatory agency for the construction, operation, and maintenance of the transmission line. The concessions were subject to international competitive bidding.

The Salto Santiago-Cascavel transmission line, sponsored by Artemis Transmissora de Energia SA, will build and operate a 371-kilometer transmission line in the state of Paraná. The project will be an inter-connector between the South and the Southeast regional grids.

The project responds to a need to compensate for low investment levels in the country’s energy sector, a result of austerity programs in the 1980s. Given that most of Brazil’s energy is produced by hydroelectric dams subject to fluctuations in water levels due to drought, the interconnected electrical system will allow for a more efficient and reliable delivery of energy.

The project will operate under a Brazilian program that calls for public-private partnerships in its electric energy concessions. Investments undertaken through the program, instituted in 1999, have resulted in an estimated 20 percent increase in electrical capacity and the generation of about 25,000 jobs. The five new transmission lines underwritten by MIGA will together account for about 25 percent of overall electricity transmission. Other development impacts include the generation of taxes and royalties, purchase of local materials, creation of competition, expanded public access to electricity, and job training.

The Artemis Transmissora de Energia SA transmission line project is in line with the World Bank Group’s Country Assistance Strategy, which aims, among other things, to help Brazil become more competitive by improving its infrastructure.

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