November 12 (Renewables Now) - Brazilian energy firm AES Tiete Energia SA (B3:TIET11) announced on Monday it will form a joint venture (JV) with Unipar Carbocloro SA to develop a 155-MW wind project.
The partners expect to begin construction work at a greenfield site in the cities of Tucano, Biritinga and Araciin the state of Bahia in 2021. The planned wind farm will require a total investment of about BRL 4 million (USD 963,000/EUR 873,000) per MW installed.
Unipar will enter into a 20-year power purchase agreement (PPA) with the JV to buy 60 average megawatts (MWa) from the wind park. That contract should come into force in 2023, according to the announcement.
(BRL 1 = USD 0.241/EUR 0.218)