Neoenergia gets REIDI okay for big portion of 566.5-MW wind project

Wind farm. Author: A W.

April 24 (Renewables Now) - Brazil has allowed a 467.5-MW portion of the 566.5-MW Oitis wind complex owned by Neoenergia SA (BVMF:NEOE3) to enter the national Incentive Regime for Infrastructure Development (REIDI).

Located in the states of Piaui and Bahia, the Oitis wind complex will be comprised of 12 wind parks of which 10 have the REIDI go-ahead in place.

After being allowed to enter REIDI, the local unit of Spanish renewables company Iberdrola SA (BME:IBE) will invest about BRL 2.55 billion (USD 462.7m/EUR 429.2m) to construct these 10 plants. The wind facilities will start construction by September 1, 2021 with full commercial operation planned for December 31, 2022.

REIDI, launched in 2007, grants tax incentives to companies investing in infrastructure projects within the transport, energy, sanitation and irrigation sectors.

Earlier this week, Neoenergia also received the first tranche of the BRL-1.3-billion loan to fund a 370.8-MW portion of the 471.2-MW Chafariz wind complex.

(BRL 1 = USD 0.181/EUR 0.158)

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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.

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