Brazil CPFL Renovaveis plans USD 2.6bn investments over 3 yrs - report

(SeeNews) - Mar 8, 2013 - Brazil's CPFL Renovaveis plans to invest BRL 5 billion (USD 2.6bn/EUR 1.9bn) in its generation and distribution portfolio between 2013 and 2015, board president Wilson Ferreira Jr was quoted as saying by energy news portal Canal Energia yesterday.

CPFL Renovaveis has 540 MW of wind power capacity ready to be tendered, together with a few small-scale hydroelectric power plant (HPP) and biomass ventures.

The company, however, will run in the energy auctions only if they offer competitive prices, Ferreira noted. The wind power prices of BRL 100 per MWh on average obtained at last year's A-5 government tender are considered economically unviable by the company.

The bulk of its wind undertakings are installed in northeastern Bahia, Ceara and Rio Grande do Norte states. The company is also currently studying the wind potential of neighbouring Pernambuco state.

CPFL Renovaveis was formed from the merger of the renewable assets of Brazil's power firm CPFL Energia (SAO:CPFE3) and green energy investment player ERSA in 2011.

(BRL 1 = USD 0.511/EUR 0.39)

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