May 15 (Renewables Now) - Chinese company CGN Energy International Holdings Co Ltd will invest BRL 1 billion (USD 251.3m/EUR 224.7m) in solar and wind energy in Brazil's Bahia state, the local government announced this morning.
The investment will focus on the Caetite, Tanque Novo, Morrinhos and Bom Jesus da Lapa regions. The state government confirmed that by the end of June, CGN's directors will hold an event in Bahia to provide more details.
Governor Rui Costa made the announcement through his personal Twitter account while in Shenzen, China.
This is not the first time CGN has made deals in the particular state. Back in January, the Chinese company bought 540 MW of wind and solar plants there from Italian utility Enel SpA (BIT:ENEL).
(BRL 1 = USD 0.25/EUR 0.22)