Furnas, FIP Caixa Milao sell output of 13 wind power plants at Aug 23 reserve auction

Aug 26, 2013 - A consortium formed by Brazilian federal utility Furnas, with a 51% interest, and investment fund FIP Caixa Milao, with 49%, sold 248 MW to be generated by 13 wind power plants at the government's reserve auction on August 23, 2013.

The price of the agreed production varied between BRL 112 (USD 48/EUR 36) and BRL 116 per MWh, against the initial price set by the government at BRL 117.

These 13 plants will require investments of some BRL 1 billion and they have signed 20-year contracts for supply starting as of September 1, 2015.

According to Olga Simbalista, new business director of Furnas, the company is investing in renewable energy, with the target solar and wind parks to account for 20% of its projects portfolio in 10 years. Furnas now plans to invest BRL 3 billion in wind power projects development but this sum may be even larger, Simbalista added.

Furnas is now building in a partnerships with other companies a total of 17 wind power plants with a combined installed capacity of 502 MW in the northeastern states of Ceara and Rio Grande do Norte.

(BRL 1.0 = USD 0.426/EUR 0.318)

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