February 26 (SeeNews) - German wind power developer Sowitec plans to invest more than BRL 2 billion (USD 505.5m/EUR 458.6m) in a 501-MW project in Brazil's Sergipe state, the local government said on Thursday.
The Parque Eolico Palmas dos Ventos, as it is named, will be sited between the cities of Tobias Barreto, Simao Dias and Riachao do Dantas. The project will be built in three phases over a period of five years. It will be connected to the existing Itabaianinha transmission line.
Sowitec plans to secure power purchase contract for the project during the energy auctions to be held by the end of this year.
Once the scheme is sold at the auction, construction works could start as early as 2017 and by 2020 or 2021 the park will be generating power, said the director of the Brazilian subsidiary and member of the board of directors, Thomas Schulthess.
(BRL 1 = USD 0.253/EUR 0.229)