Bloomberg News

GE Sells $895 Million of Wind Turbines to Brazil’s Bioenergy

May 03, 2013

General Electric Co. (GE:US), the U.S. power-equipment supplier, will sell 1.8 billion reais ($895.3 million) of turbines to Bioenergy Geradora de Energia Ltda., a Brazilian company seeking to develop the world’s cheapest wind energy.

GE will deliver 207 turbines to 13 of Bioenergy’s projects in the northeastern state of Maranhao and will furnish another 170 others for future projects, Sao Paulo-based Bioenergy said today in an e-mailed statement.

GE will invest in a domestic supply chain to be eligible for a new local-content requirement of national development lender Banco Nacional de Desenvolvimento Economico e Social so that its turbines can be sold with cheap debt, according to the statement.

Bioenergy agreed to sell energy from wind farms in a government-organized auction in December at 87.77 reais a megawatt-hour, the world’s lowest price for wind power, Eduardo Tabbush, an analyst at Bloomberg New Energy Finance, said Jan. 31 in a telephone interview.

To contact the reporter on this story: Stephan Nielsen in Sao Paulo at snielsen8@bloomberg.net

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


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Companies Mentioned

  • GE
    (General Electric Co)
    • $25.79 USD
    • -0.15
    • -0.58%
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