SPIC invests $147 M in Brazil wind farms
SPIC is diversifying its portfolio and aiming to become one of Brazil’s three largest energy generators.
Image for illustration purposes.
Brazil, São Paulo: Chinese electricity company SPIC announced a 780 million reais ($147.41 million) investment in construction of two wind farms in Northeastern Brazil, while making its debut in the country’s solar sector, with two large plants beginning operations. SPIC is diversifying its portfolio and aiming to become one of Brazil’s three largest energy generators, Adriana Waltrick, CEO of SPIC’s Brazilian unit, told Reuters.
The wind farms will be built in Rio Grande do Norte state and have a combined installed capacity of 105.4 MW to be sold on the free energy market. Construction work is set to start by January 2025 and operations should begin the following year. The solar plants were inaugurated in Piaui and Ceara states, with a capacity of 738 MWp.
The solar plants received 2 billion reais in investments and the energy produced will be sold on the free energy market. Around 65% has already been sold under long-term contracts, while the remaining 35% will be negotiated under shorter deals.
SPIC has roughly 3800 MW of installed capacity with assets in operation in Brazil, which is one of the company’s priority markets. The company is awaiting news from the Brazilian government about energy auctions planned for this year and are interested in taking part in possible bids for new hydroelectric plants. SPIC’s projects in the country also involve studies into the production of green hydrogen associated with installation of offshore wind turbines.
Source: Reuters