Brazil's Copel Cutia Wind Complex in Rio Grande do Norte
US chemical company Dow Inc (NYSE:DOW) has signed an off-take contract with local developer Casa dos Ventos Energias Renovaveis to buy some of the electricity generated by the 1,038-MW Rio do Vento wind farm complex in Brazil.
Under the 15-year power purchase agreement (PPA), Dow will receive a continuous volume of 60 average megawatts (MWa), the Brazilian company announced on Tuesday.
Casa dos Ventos’ new business director, Lucas Araripe, commented that this contract helps to make feasible the largest wind power complex in the country.
In addition to purchasing energy, Dow also has the option of making direct investments in Casa dos Ventos’ wind farms. This move enables the US company to become self-sufficient in regards to energy production in the future.
At present, the chemical company has 850 MW of renewable energy power contracted, the energy director for Latin America, Claudia Schaeffer, said.