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EDF Energies enters Brazilian wind market with purchase of Sowitec assets

CTBR Staff Writer Published 26 February 2015

EDF Energies Nouvelles has entered the Brazilian market with a new subsidiary by acquiring a majority stake in an 800MW pipeline of wind projects from Sowitec.

The company's new subsidiary, EDF EN do Brasil, will be based in Rio de Janeiro. It will develop the portfolio in partnership with Sowitec, which retains a 20% interest.

The facilities will be located in Bahia state and a 70MW initial project is due to be commissioned by the end of 2017.

ANEEL will buy the energy generated from the project under a 20-year power purchase agreement.

EDF Energies Nouvelles CEO Antoine Cahuzac said: "By expanding into Brazil, EDF Energies Nouvelles takes its initial step into the South American continent.

"We are delighted especially since Brazil has a tremendous wind energy potential and a regulatory framework that is favourable to a massive expansion of renewables in the energy mix."

Brazil is an important renewable energy market where the wind capacity is estimated to increase to 22.5GW by 2023 from 5.9GW in 2014.

EDF Energies Nouvelles manages development and construction phases of renewable energy projects. The company will operate and maintain the facilaities for its own account and for third parties.

The company has a portfolio of 7,517MW of installed capacity, mostly wind and solar photovoltaic energy.