Martifer Renovables to invest in wind energy in Brazil

Portuguese group Martifer Renovables is to invest 300 million reals in construction of four wind power farms in northeast Brazil, an operation carried out in partnership with Banco Santander Brazil.

Speaking to newspaper Oje, Jorge Martins said that the four wind energy plats would have an installed capacity of 90.3 megawatts and, under the terms of the contract, would be operating by July, 2012.

Martins added that the partnership announced to the market between Martifer Renováveis, the group’s renewables company, and Santander Brasil would need to get the go-ahead from the Brazilian authorities.

Two wind farms will be located in the state of Ceará and the remaining two in the state of Rio Grande do Norte, thus significantly increasing Martifer’s installed capacity in Brazil, which is currently 14 megawatts.