Brazil has allowed 99.2 MW of wind projects owned by the local renewables arm of EDP Renovaveis SA (ELI:EDPR) to enter the national Incentive Regime for Infrastructure Development (REIDI).
The special purpose entities (SPEs) of EDP Renovaveis Brasil will invest close to BRL 440.6 million (USD 78.5m/EUR 66.3m) to build the plants, saving around BRL 44.8 million because of REIDI.
The two projects, located in Jandaira, Rio Grande do Norte state, will have an installed capacity of 49.6 MW each. The plants are planned to be up and running by January 1, 2025.
REIDI, launched in 2007, grants tax incentives to companies investing in infrastructure projects within the transport, energy, sanitation and irrigation sectors.
(BRL 1 = USD 0.177/EUR 0.150)
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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.