US ContourGlobal to invest USD 527.4m in Brazilian wind energy in 2011
(ADPnews) - Dec 21, 2010 - US energy company ContourGlobal has earmarked BRL 900 million (USD 527.4m/EUR 400.9m) for investments in wind farm projects in Brazil in 2011, the company said.
ContourGlobal plans to acquire between 200 MW and 300 MW at Brazil's next energy auction, expected for the second half of the year.
Brazil is one of the most important markets for the company. It will de allocated between 30% and 40% of ContourGlobal's total investments in the next three years, the company's president for Latin America, Juan Pablo Gomez, said.
ContourGlobal has already announced investments of BRL 1 billion in already ongoing projects in Brazil, like small-scale hydroelectric power plants in Goias state and a wind farm in Rio Grande do Norte state.
Now, it olans acquisitions of small and medium-sized companies from the renewables sector, according to Gomez.
The first deals should be announced as soon as the first half of 2011, the executive added.
At present, ContourGlobal operates in 15 countries in Africa, Europe, Latin America and in the USA.