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Iberdrola Builds 3 Wind Farms in Brazil With Neoenergia

March 27, 2013

Iberdrola SA (IBE), Spain’s biggest utility, built three wind farms totaling 80 megawatts of capacity in Brazil with local partner Neoenergia SA.

Iberdrola installed turbines at the 20-megawatt Mel II project and the 30-megawatt Caetite II and Caetite III ventures, it said today in an e-mailed statement, without disclosing terms. Mel II is now operating, the company said. The farms all use 2-megawatt G90 turbines from Gamesa Corp. Tecnologica SA. (GAM)

The wind projects are part of a 10-farm, 288-megawatt collaboration with Neoenergia that will provide enough power for about 450,000 people, according to Iberdrola. The Bilbao-based utility is expanding abroad after the debt-strapped Spanish government cut back subsidies for renewable energy.

The 10 wind farms are funded by 300 million euros ($383 million) of loans from the Bank of Brazil and the South American nation’s development bank, the Banco Nacional de Desarollo Economico & Social, or BNDES.

To contact the reporter on this story: Alex Morales in London at amorales2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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