EDF Energies Nouvelles has made its maiden foray into the South American market by acquiring a portfolio of development projects in Brazil that have a capacity of 800 megawatts.
The projects were acquired from Sowitec and include 70MW that are ready to sign a regulated power-purchase agreement. Sowitec will continue to hold 20% stake in the projects. Financial details of the agreement were not disclosed.
EDF Energies Nouvelles has set up a local subsidiary, EDF EN do Brasil, to run its Brazilian operations. It said it views Brazil as a key renewable energies market, with 5.9 gigawatts of installed wind energy capacity in 2014, and up to 22.5GW expected by 2023.
The projects are all located in the state of Bahi. The first 70MW of wind farms are due to be commissioned by end of 2017 with output to be sold under a 20-year PPA that has been signed with ANEEL.