December 3 (Renewables Now) - Brazilian energy firm AES Tiete Energia SA (B3:TIET11) announced on Monday it has signed a power purchase agreement (PPA) with Anglo American Niquel Brasil Ltda for 79 average megawatts (MWa).
The PPA with the local unit of mining multinational Anglo American plc (LON:AAL) will become effective in 2022 for a period of 15 years, the company said in its note to the press.
The contract allows AES to commence construction of a 167.4-MW wind farm in the state of Bahia in 2021. The company estimates it needs to invest around BRL 670 million (USD 159.3m/EUR 143.8m) in the project.
Last month, AES Tiete announced the formation of a joint venture (JV) with Unipar Carbocloro SA to develop a 155-MW wind project, also expected to break ground in the state of Bahia in 2021. Under this agreement, Unipar is entering into a 20-year PPA with the JV to buy 60 MWa from the wind park.
(BRL 1 = USD 0.238/EUR 0.215)