TEEE has successfully won an order for 10 smoothing reactors for the ±600 kV DC transmission revitalization project at the Itaipú Hydroelectric Plant in Brazil. Following three intense rounds of competitive bidding in Beijing on May 30, 2024, our company emerged triumphant. The reactors are scheduled for delivery in April 2025. This landmark achievement signifies the first export of China's ultra-high voltage reactors to the South American market, representing a crucial milestone in our international expansion efforts.
The Itaipú Hydroelectric Plant is one of the most significant power stations globally, boasting a total installed capacity of 14 million kilowatts and an average annual generation of 90 billion kilowatt-hours. The plant has been in operation for nearly 40 years, and its DC transmission system is now undergoing its first major overhaul. This upgrade is expected to substantially enhance the project's reliability, providing secure, economical, and dependable power to 16% of Brazil's population.
In December 2023, China Power Technology Equipment Co., Ltd. signed an EPC contract with Furnas, a subsidiary of Brazil's national power company, for the comprehensive upgrade of the Itaipú Plant's ±600 kV DC transmission system. TEEE, as a vital subcontractor, is responsible for supplying the reactors. This involvement underscores the rising global influence and technical process of Chinese HVDC technology and equipment.
Inspired by this success, TEEE is committed to continually focusing on high-end grid markets, especially in ultra-high voltage technology. We are dedicated to increasing our investment in advanced product research and development, improving our R&D infrastructure, and expanding our expertise. Our aim is to leverage our technical and experiential advantages in HVDC reactors to penetrate further international markets, driving robust growth in our overseas operations and propelling global advancement for our company.