The PPP contract sets key milestones that the Project Company is required to achieve. The key milestones as set out in the PPP contract are:

•  Start of Construction

•  Start of Electromechanical Assembly

•  Start of Commissioning

•  Start of Commercial Operation

Failure to achieve the milestones can result in amounts becoming payable to the Procuring Authority as well as the potential calling upon of performance bonds.

The management and monitoring of the contract during the construction phase was done through management meetings and a software system called SIGET (Sistema de Gestão da Transmissão / Transmission Management System) which tracks the main milestones during the development from financial close to commercial operation. Management meetings are usually held quarterly and, if necessary, site visits and inspections are performed.

Both the Procuring Authority and the Project Company have access to the SIGET software. The Project Company is required to update the project development progress data on a monthly basis to provide the Procuring Authority with visibility over the progress.

The Procuring Authority's more active role in the monitoring of the project ends with the commissioning phase. Its role in the monitoring of the project is then scaled back to an oversight role whereby the Procuring Authority intervenes only if and when necessary. When the transmission line entered into service, the Grid Operator took over from the Procuring Authority the performance monitoring of the Project Company. The operation is monitored in real time and the associated performance monitoring reports are made available on the public domain.