Electricity transmission is once again at the center of the regional energy agenda. Argentina launched a plan worth over US$6.6 billion to add 5,610 kilometers of lines; Mexico announced US$8.177 billion to add 275 new transmission lines and 524 substation projects ; Brazil moved forward with an auction estimated at R$8.9 billion , with 1,866 kilometers of lines and 13,144 megavolt-amperes (MVA) of transformation capacity; and Chile projected 43 projects worth US$647 million , while more than 70% of transmission projects under development are behind schedule.
With that level of investment and restrictions, the weight of transmission companies is once again crucial in anticipating which markets will be able to absorb more renewables and which will continue to face network limitations.
In that regard, Energía Estratégica compiled a list of the main players in electricity transmission in the region, considering not only kilometers operated, but also relevant concessions, trunk networks, recent investments, renewable bottlenecks and capacity to enable new generation, mining, large consumption, storage or interconnections.
Argentina: Transener, Transba and the weight of strategic power lines
In Argentina, the structural leadership is maintained by Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener SA ( Transener ) , the main electric power transmission company operating at extra-high voltage and the backbone of the Argentine Interconnection System (SADI) . The company operates and maintains 13,245 kilometers of 500-kilovolt (kV) and 220-kV lines, representing 86.2% of the extra-high voltage network, in addition to 53 substations . Alongside it is Empresa de Transporte de Energía Eléctrica por Distribución Troncal de la Provincia de Buenos Aires SA (Transba) , key due to its coverage in the province of Buenos Aires, where a significant portion of the national demand is concentrated.
The map of concessionaires is completed by Transnoa, Transnea, Transpa, Distrocuyo, Transcomahue , and the Neuquén Provincial Energy Authority (EPEN) , regional companies that operate in areas associated with the main expansion challenges: solar in Northwest Argentina (NOA) and Cuyo, wind in Patagonia, industrial demand in Comahue, and restrictions in Northeast Argentina (NEA) . These are joined by independent transmission companies and specific assets that should not be overlooked, especially Líneas de Transmisión del Litoral SA (LITSA) and Yacylec SA , due to their connection with Yacyretá, the NEA, and 500 kV corridors. A second category also includes TIBA, LINSA, LIMSA, INTESAR, Interandes, Transportel Minera 2, EDERSA, DPEC, ENECOR, SPSE, and Transacue.
The case of LITSA reflects the strategic importance of these assets: it operates infrastructure associated with Yacyretá and the NOA-NEA interconnection, including a 572-kilometer stretch of 500 kV lines. Furthermore, the corporate reorganization that gave Edison Transmisión full control of the company reinforces private interest in critical electricity transmission assets.
Although not a transmission company, the Wholesale Electricity Market Management Company (CAMMESA) must also be included in the analysis due to its role as the operator of the SADI technical-economic dispatch system, administrator of the Wholesale Electricity Market (MEM) , and a key player in the operational allocation of capacity. In parallel, the change in shareholding of the Electricity Transmission Investment Company (CITELEC) , the company that controls Transener and Transba, adds a key piece of information to the player landscape. In 2026, the Government authorized the transfer of 50% of CITELEC's share capital , which was held by Energía Argentina SA (ENARSA), to Transmisión Eléctrica SA (TESA) , a company jointly owned by Edison Transmisión SA and Genneia SA , for USD 356,174,811.78 .
The underlying bottleneck is the lack of grid expansion to keep pace with growing demand and the location of new projects. The government launched a National Electricity Transmission Expansion Plan worth over USD 6.6 billion , with 5,610 kilometers of new lines. Among the first prioritized projects are the Buenos Aires Metropolitan Area I (AMBA I) line , to reinforce the main consumption center; the Río Diamante–Charlone–O'Higgins line, key for evacuating renewable and conventional generation from Cuyo and part of Comahue; and the Puerto Madryn–Choele Choel–Bahía Blanca line , intended to improve the connection between Patagonia and the main grid.
Brazil: Axia, ISA, Taesa and the largest regional auctions
Brazil is the largest and most competitive electricity transmission market in Latin America. The business combines large, established operators, specialized private groups, international companies, and special-purpose companies that win auctions.
Among the main players is Axia Energia , formerly Eletrobras, which operates 74,000 kilometers of transmission lines, equivalent to 37% of the National Interconnected System (SIN) . The company projects reaching a 40% share of the SIN by 2028, with the delivery of 2,261 kilometers of new lines, a large part of them in the Northeast, a key region for the transmission of wind and solar power.
Another key player is ISA Energia Brasil / Companhia de Transmissão de Energia Elétrica Paulista (CTEEP) , one of the leading private concessionaires in the sector. The company reports 18,500 kilometers of lines, 121 substations , and 55,700 MVA of transformation capacity, in addition to investments of around R$ 11 billion in expansion over the last decade.
Transmissora Aliança de Energia Elétrica SA (Taesa) is also among the leaders due to its pure transmission profile. The company holds 44 concessions , operates in 18 states and the Federal District, has 113 substations , and manages approximately 15,300 kilometers of lines, including assets in operation and under construction. Its total Annual Permitted Revenue (RAP) for the 2025-2026 cycle reaches approximately R$ 4.4 billion .
The map is completed by Alupar , which is defined as one of the largest transmission companies in Brazil in terms of RAP; State Grid Brazil Holding , with more than 16,000 kilometers of lines in operation and around 10% of the Brazilian high-voltage network; and groups such as Neoenergia Transmissão, Engie Brasil, Copel Geração e Transmissão, Cemig Geração e Transmissão, Equatorial and Energisa Transmissão , relevant for concessions, acquisitions, auctions or regional assets.
In Brazil, the analysis must also consider the National Electric Energy Agency (ANEEL) , the National Electric System Operator (ONS) , and the Energy Research Company (EPE) . ANEEL structures concessions and auctions; ONS operates the National Interconnected System (SIN); and EPE defines planning studies that guide expansion. EPE has identified large-scale projects in the North/Northeast and in the North/Northeast–Southeast/Central-West interconnection to integrate the renewable energy potential of these regions, with approximately 15,000 kilometers of new lines planned in previous studies.
The current situation confirms this pressure on the grid. ANEEL approved the draft of Transmission Bill No. 4/2026 , with estimated investments of R$ 8.9 billion , 1,866 kilometers of new lines, and 13,144 MVA of transformation capacity. The tender includes nine lots in seven states and aims to strengthen areas such as Bahia, Goiás, Mato Grosso do Sul, Paraíba, Paraná, Rondônia, and São Paulo.
The challenge there is related to the distance between renewable generation facilities and load centers. ONS recognizes that curtailment is a structural reality in systems with high renewable share and that, in Brazil, the constraints can be due to both energy surpluses and reliability limits, especially in the export corridors from the Northeast and North/Northeast to the Southeast/Central-West.
Chile: Transelec, CGE and Interchile face congestion, delays and spills
In Chile, the main transmission players are Transelec, CGE Transmisión and ISA Interchile , joined by Celeo Redes, Transmisora Eléctrica del Norte (TEN), Engie Energía Chile, Sistema de Transmisión del Sur / Saesa, Transemel and Colbún Transmisión , among other operators with relevant assets in the National Electric System (SEN) .
Transelec remains the country's main transmission company, with approximately 10,000 kilometers of lines and more than 60 substations , stretching from Arica to Los Lagos. CGE Transmisión also ranks among the players with the largest coverage, boasting over 3,300 kilometers of lines and 225 substations distributed across various regions of the country. ISA Interchile , for its part, is strategically important due to assets such as Cardones-Polpaico and Encuentro-Lagunas, as well as its involvement in system expansion projects.
The analysis should also include the National Electric Coordinator , the National Energy Commission (CNE) , and the Superintendency of Electricity and Fuels (SEC) . The Coordinator operates the system and proposes expansion projects; the CNE leads the annual transmission planning process; and the SEC oversees the security and quality of service. In 2026, the CNE opened the call for transmission expansion proposals, while the Coordinator submitted its annual proposal for projects for the National Electric System (SEN).
The current situation is marked by delays and new infrastructure. The Chilean Renewable Energy and Storage Association (ACERA) warned that, as of November 2025, more than 70% of transmission projects under development were behind schedule, with average delays of approximately 1.7 years , affecting system operation, energy curtailment, and the efficiency of renewable energy investment. At the same time, the Coordinator proposed a package of 43 projects worth USD 647 million for 2026, including both national and regional projects.
The most emblematic project is Kimal-Lo Aguirre , developed by Conexión Energía , a consortium linked to ISA, Transelec, and China Southern Power Grid. The high-voltage direct current (HVDC) transmission line will have a capacity of 3,000 megawatts (MW) , extend for more than 1,300 kilometers , and connect the renewable energy-producing north with the central region of greatest demand. Its importance extends beyond the specific project itself: it is the country's main attempt to reduce structural congestion and transport solar and wind energy from generation hubs to consumption centers.
Colombia: ISA, GEB and the La Guajira test
In Colombia, transmission is concentrated in the hands of a few players. Interconexión Eléctrica SA (ISA) , through ISA Intercolombia , leads the National Transmission System (STN) . According to available corporate information, ISA Energía represents, manages, operates, and maintains 10,309 kilometers of circuit and assets in 87 substations of the National Interconnected System.
The second major player is Enlaza , a subsidiary of Grupo Energía Bogotá (GEB) , which manages transmission assets and is leading one of the country's most strategic projects: the 500 kV Collector . This project aims to transport renewable energy from La Guajira to the National Interconnected System, and the Ministry of Mines and Energy announced that it will be completed in August 2026.
The analysis should also include XM Compañía de Expertos en Mercados SAESP (XM) and the Mining and Energy Planning Unit (UPME) . XM operates the National Interconnected System and manages the Wholesale Energy Market, while UPME defines the Transmission Expansion Plan based on projections of demand and system needs.
The Colombian challenge combines infrastructure, licensing, and territorial management. In addition to the Colectora project, ISA Intercolombia is leading projects such as Cuestecitas-Copey-Fundación , a roughly 270-kilometer project using 500 kV and 220 kV lines designed to transmit renewable energy from La Guajira and the Caribbean to the rest of the grid. ISA announced in 2025 the completion of this interconnection, which includes the installation of 270 kilometers of lines and expansions at the Fundación, Copey, and Cuestecitas substations.
Infrastructure is crucial because La Guajira has one of the region's greatest wind power potentials, but the progress of projects has been hampered by prior consultations, permits, territorial conflicts, and delays in connection works.
Guatemala and SIEPAC: National transmission with regional impact
Guatemala does not have the scale of Brazil, Mexico or Chile, but it does have strategic weight within Central America due to the presence of several transporters and its connection with the Regional Electricity Market (MER) .
The main players are the Electric Power Transmission and Control Company (ETCEE) , of the National Electrification Institute (INDE) , as the state-owned transmission arm; Conecta / Central American Energy Transport Company (TRECSA) , a subsidiary of GEB; Central American Electric Transport Company (TRELEC) , linked to the EPM Group; and the Network Owner Company (EPR) , responsible for the line of the Central American Electrical Interconnection System (SIEPAC) . The National Electric Power Commission (CNEE) identifies ETCEE-INDE in its registry of transmission companies, while the Ministry of Energy and Mines (MEM) maintains a comprehensive list of authorizations for providing electricity transmission services.
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Among the private sector, Conecta/TRECSA stands out as one of the most significant players: it operates 23 substations , 692 kilometers of transmission lines, and is one of the largest operators of 230 kV networks in the country, with 1,500 MVA in reserve. TRELEC, for its part, is a Guatemalan company dedicated to the transmission of electrical energy, a subsidiary of the EPM Group.
The analysis should also include the Wholesale Market Administrator (AMM) , which operates the National Interconnected System and the Wholesale Market, and the CNEE, which publishes the transmission system expansion plans.
The regional dimension is marked by SIEPAC, a 230 kV line connecting the systems of Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, and Panama. The EPR reports 21 interconnected 230 kV transmission lines from Guatemala to Panama, with a length of 1,800 kilometers and provisions in the towers for a second circuit. In turn, the Regional Operating Entity (EOR) plans the Regional Transmission Network, coordinates the technical operation of the Regional Electrical System, and manages the MER commercially.
Guatemala's bottleneck lies in strengthening the national network to support the growth in demand, improve reliability, connect new projects, and sustain regional exchanges.
Mexico: CFE Transmission in the face of nearshoring and new mixed projects
Mexico has a system concentrated in CFE Transmisión , a productive subsidiary of the Federal Electricity Commission (CFE) . Its role is to provide the public transmission service, as well as to finance, install, maintain, manage, operate, and expand the infrastructure necessary for the National Transmission Network (RNT) .
The analysis should also include the National Energy Control Center (CENACE) , the Ministry of Energy (SENER) , and the Energy Regulatory Commission (CRE) . CENACE operates the National Electric System (SEN) and proposes the Expansion and Modernization Programs for the National Transmission Network (RNT); SENER defines energy policy and binding planning; and CRE maintains regulatory functions within the electricity sector. In this market, leadership is not measured by competition among concessionaires, but by the capacity of the State and CFE Transmisión to execute projects in line with industrial demand, nearshoring, and generation expansion.
The most relevant announcement is the 2025-2030 plan, which foresees USD 8.177 billion to build 275 new strategic transmission lines and 524 works in electrical substations , with more than 6,000 kilometers of circuit and an estimated benefit for 50 million users .
Pressure on infrastructure will also come from the new generation side. CFE awarded 37 renewable energy projects totaling 7,411 MW in its first mixed investment call, exceeding the initial target of 6,500 MW. Most of these are photovoltaic projects, reinforcing the need to assess interconnections, grid capacity, and the geographic location of the new plants.
The Mexican bottleneck combines growing demand, state concentration of transmission, and the need to connect new clean capacity without affecting reliability. In fact, new mixed-use power projects are located primarily in the northeast and the Yucatán Peninsula, areas where CENACE will have to assess whether the available interconnections are sufficient to absorb the projected generation.
Paraguay: ANDE and the grid to make better use of available energy
In Paraguay, the central actor is the National Electricity Administration (ANDE) , responsible for the national electricity system. Its regional importance lies not in a concessions market, but in the role of the grid in making better use of available hydroelectric power, meeting new demand, and strengthening the reliability of the National Interconnected System (SIN) .
The analysis must also consider Itaipu and Yacyretá, not as transmission facilities, but as hydroelectric assets that account for a significant portion of Paraguay's electricity planning. The fundamental challenge is having sufficient infrastructure to withdraw, transport, and distribute energy under safe operating conditions, especially given the growing demand and the pressure on the Greater Asunción Metropolitan Area (AMA) .
The most significant recent investment is the high-voltage transmission system expansion project, supported by the Inter-American Development Bank (IDB) , the European Investment Bank (EIB) , and the European Union. This project aims to increase the reliability and maximum transmission capacity of the National Interconnected System (SIN), as well as improve the efficiency and operational flexibility of the grid in the Amazon region. The initiative includes works such as the new Emboscada 500 kV Substation , the reconfiguration of two existing 500 kV lines, and interconnection with the 220 kV network via two new lines.
This package is part of ANDE's 2024-2033 Transmission Works Master Plan, while generation planning looks towards 2043. In this roadmap, transmission appears as a condition to sustain demand growth, reduce system vulnerabilities and prepare a more diversified mix, which begins to incorporate large-scale photovoltaic projects, hybrid systems and batteries.
The Paraguayan bottleneck is not related to competition between players, but rather to the speed of expansion of the state infrastructure. The grid must strengthen metropolitan supply, improve system flexibility, and allow the country to use its available energy more efficiently, while also preparing space for new non-conventional renewable generation.
Peru: ISA, CTM and new concession packages
Peru combines mining demand, urban growth, and new renewable energy developments, making transmission a central component of the National Interconnected Electricity System (SEIN) . In this market, its leadership is explained by private concessions, expansion through public-private partnerships (PPPs) , and the capacity to connect new loads in regions with high productive demand.
The leading group in the segment is ISA Energía Perú , which operates through Red de Energía del Perú (REP) , Consorcio Transmantaro (CTM) , ISA Perú, and Consorcio Eléctrico Yapay (CEYA) . The company reports a presence in 21 departments , with more than 12,000 kilometers of transmission lines and 86 electrical substations , and a market share of approximately 73% .
This map also includes Engie Energía Perú, Acciona, Celeo Redes, Alupar Perú, Cobra / Concesiones Perú , and other operators that compete or participate in concession processes. Engie's case gained prominence in 2026 after the Ministry of Energy and Mines (MINEM) and the Private Investment Promotion Agency (ProInversión) awarded it four projects under the 2025-2034 Transmission Plan, worth USD 339 million , aimed at strengthening the system in Piura, Lambayeque, Junín, and Ayacucho.
The analysis should also include the Economic Operation Committee of the System (COES) , which operates the National Interconnected Electric System (SEIN), manages the Peruvian electricity market, and plans transmission based on criteria of economy, quality, and safety. This planning results in a binding ten-year plan, prepared every two years, which then serves as input for the Ministry of Energy and Mines (MINEM) to task ProInversión with issuing calls for bids for new facilities.
Among recent investments, one of the most significant was the USD 76.1 million financing from IDB Invest to CTM, aimed at constructing more than 250 kilometers of new transmission lines in Arequipa, Piura, and San Martín. This operation seeks to strengthen the reliability of the system, integrate renewable energy sources, and support more than 2.4 gigawatts (GW) of new solar capacity projected in southern Peru.
Peru's bottleneck lies in connecting projects located far from major consumption centers and sustaining mining and industrial demand without compromising reliability. Therefore, expanding transmission infrastructure in areas like Piura, Arequipa, San Martín, and the southern mining region will be crucial for enabling new solar, wind, and hybrid capacity, as well as strengthening urban and industrial power supply.
Dominican Republic: ETED and battery-powered transmission
In the Dominican Republic, the central player is the Dominican Electricity Transmission Company (ETED) , a state-owned enterprise responsible for operating, maintaining, and managing the country's high-voltage networks, substations, equipment, and electrical transmission systems. Its function is to transport energy throughout the national territory and develop the National Transmission System in accordance with market demand.
The analysis should also include the Coordinating Body of the National Interconnected Electric System (OC-SENI) , the National Energy Commission (CNE) , the Superintendency of Electricity (SIE) , and the Ministry of Energy and Mines (MEM) . The OC-SENI coordinates the operation of the system and the administration of the wholesale electricity market; the CNE is involved in planning and concessions; the SIE regulates and oversees; and the MEM defines sector policy.
The Dominican Republic's challenge lies in strengthening transmission infrastructure and substations to support growing demand and the addition of new renewable capacity. The SIE (Superintendency of Electricity) had already explicitly linked ETED's expansion plans to renewable generation in the Northwest and South regions, highlighting the need for 345 kV and 138 kV lines to allow new wind farms to feed into the grid.
The most significant development is that ETED is advancing technical, financial, and legal guidelines to enable private investment in battery energy storage systems (BESS) . The initiative envisions a reference size of up to 600 MW / 1,200 megawatt-hours (MWh) , with the aim of strengthening the operation of the National Interconnected Electric System (SENI) , improving flexibility, and supporting the national energy transition.
Uruguay: UTE and the closure of the 500 kV ring
In Uruguay, the National Administration of Power Plants and Electrical Transmissions (UTE) maintains the central role as an integrated public company responsible for generation, transmission, and distribution. Unlike other regional markets, this sector is not driven by competition among private concessionaires: transmission and distribution are considered public services and are managed by UTE, although the regulatory framework allows for the possibility of granting concessions.
The analysis should also include the Electricity Market Administration (ADME) , the Energy and Water Services Regulatory Unit (URSEA) , and the Ministry of Industry, Energy and Mining (MIEM) . ADME manages the Wholesale Electricity Market and performs the economic dispatch of the system; URSEA regulates and oversees the quality, safety, and consumer protection of electricity activities; and MIEM defines energy policy guidelines.
The most significant recent investment is the 500 kV Northern Electrical Ring . In 2026, UTE energized the first section of this project, which connects Salto Grande with Tacuarembó and comprises 350 kilometers of extra-high-voltage line in two sections, a new substation in Chamberlain, expansions in Melo, and the interconnection with Salto Grande.
The Uruguayan challenge is linked to the need to strengthen a grid that was already showing limitations in the face of connecting new generators, the gradual growth of consumption, and the saturation of the available margin at 150 kV. UTE itself pointed out that the 500 kV Salto-Palmar-Montevideo backbone had not undergone any structural upgrades for 45 years, which could even affect the viability of new productive projects, such as data centers in the metropolitan area.
Planning is progressing in that direction. UTE has begun studies to build a third 500 kV corridor between the central and southern regions of the country, where the highest consumption is concentrated, with a projection to 2035. In addition, the transmission expansion is linked to the plan to incorporate around 600 MW of solar photovoltaic capacity , keeping pace with the growth in demand and electric mobility.