Wind energy in Brazil: Elecnor wins new wind farm

Elecnor, through its subsidiary Enerfin wind, has been awarded the management of 28 new megawatts of wind power in Brazil, which already has under development and another 300 MW operating, the company has informed the National Stock Exchange ( CNMV).

Elecnor build and operate a new wind farm in Brazil, called "Two Indians 2 ‘, in the State of Rio Grande do Sul, which will join the wind farm the company has in Osorio, in operation since 2006 and considered the largest Latin America wind energy plant. As he pointed out the company’s total planned investment for this new wind farm that will house 14 wind turbines, amounting to 104 million reais (45.3 million euros).

Elecnor has indicated that the use of complex Osorio infrastructure to develop the new wind farm has allowed to offer very competitive prices, a factor considered crucial in the current Brazilian wind energy market circumstances. Elecnor estimated that the new wind farm connecting to the network of complex Osorio will occur in July 2014. The development of this new wind farm in Brazil is part of the investments of 2,800 million euros provided by the company in its strategic plan 2011-2013.

Elecnor has been granted financing for the amount of 445 million Brazilian reais (roughly 198 million euros at the current listed value) from the National Bank for Economic and Social Development (BNDES, Banco Nacional de Desenvolvimento Econômico e Social) to develop its subsidiary Enerfín’s new wind power projects in Brazil. The financing has a 16-year term.

This agreement with BNDES covers the latest three awards Elecnor has been granted in Brazil, 150 MW altogether. Specifically, said awards constitute the Las Leiloes wind farms (96 MW in 2009 and another 46 MW in 2010) and the Palmares wind farm, with an additional 8 MW.

Of these 150 MW located in the state of Rio Grande do Sul, 30 MW are already in operation, while the rest are scheduled to become operational sometime this year or next. By combining the new MW with those previously developed, Elecnor’s total power in Brazil climbs to 300 MW, thus staking its place among the country’s industry leaders.

Elecnor has consolidated its position within the realm of renewable energy, with a prominent foothold in wind energy (over 1,000 developed MW), concentrated solar thermal power (three Concentrating Solar Power plants currently under construction in Spain) and photovoltaic solar energy. The financing provided to the Brazilian wind farms is part of the investment efforts put in place by Elecnor within its 2011-2013 Strategic Plan: 2,800 million euros, of which 700 are directly attributable to the company through capital contributions in projects which will be financed under a "project finance" model.

By José Santamarta,