July 26, 2017 / 7:37 PM / a year ago

Brazil says court decision opens way to cancel Abengoa licenses

SAO PAULO, July 26 (Reuters) - Brazil’s power regulator Aneel said on Wednesday a Brazilian court revoked an injunction favoring Abengoa, opening the way for the watchdog to cancel licenses held by the Spanish company to build power transmission lines in Brazil.

Abengoa has stopped construction work on about 6,000 kilometers (3,730 miles) of power transmission lines in Brazil since 2015, due to lack of funding. But it has resisted government attempts to take back the licenses for those lines and offer them to other companies in new bidding processes. (Reporting by Luciano Costa; Writing by Marcelo Teixeira and Tom Brown)

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