EDP Renewables to build two wind farms in Brazil

EDP Renewables, a United States subsidiary of Portugal’s electricity provider EDP (Energias de Portugal) has purchased new contracts via auction which will enable it to construct two wind farms in the Brazilian State of Rio Grande.

The two new energy acquisition contracts (EACs) have a 20-year lease and will permit the company led by Manso Neto to sell electricity  on Brazil’s regulated market.

As part of this deal, the company will build two new eolic wind parks in Rio Grande do Norte in Brazil.

EDP Renewables has enjoyed a robust year in terms of net profits with nearly €100 million in the first half of 2018.

“The long-term contracts are for renewable energy that will be generated from two wind farms that will be installed in  Jerusalem, Rio Grande do Norte with a capacity of 176MW and Monte Verde in the same state at 253MW”, says the company in a communiqué.

The two wind farms should be up and running by the start of 2024.

The price paid for the long-term contracts was 94 Brazilian Reais /per MW and 87 Reais respectively. (around €20)