Brazil Queiroz Galvao Energias Renovaveis enters power trading segment - report

Nov 15, 2012 - The executive board of Brazilian renewable energy developer Queiroz Galvao Energias Renovaveis has cleared the setting up of a power trading unit in a bid to diversify the company's expansion options, local energy news portal Canal Energia reported yesterday.
The move is in line with the recently observed strategy of other home sector players, such as Renova Energia (SAO:RNEW11) and CPFL Renovaveis, which have already created trader arms, Canal Energia commented.
Queiroz Galvao Energias Renovaveis has taken all necessary legal steps and expects to launch the energy trading subsidiary in the first quarter of 2013, the portal wrote, quoting the company's CEO, Max Xavier Lins.
The company reportedly bets on selling about 1 GW of wind and hydropower by 2017.
According to Lins, the portfolio of new projects currently comprises 800 MW of wind capacity, of which only 122 MW have been sold to regulated market consumers, while the remainder as well as 300 MW of hydropower capacity are available to be commercialised in the free market.

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