Latin America, Caribbean power roundup

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Tuesday, October 11, 2016

GE announced plans to purchase LM Wind Power, a Denmark-based manufacturer and supplier of rotor blades to the wind industry, for US$1.65bn.

"The deal in-sources wind turbine blade design and manufacturing for GE's Renewable Energy business, improving its ability to increase energy output and create value for onshore and offshore customers," GE said in a statement.

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"The offer from GE makes clear commercial sense for the growth of LM Wind Power," LM chief executive Marc de Jong said in a separate release, adding that the deal will help "improve our manufacturing capabilities and reliability, expand our global footprint." In Latin America, LM has a plant in Brazil.

The transaction is due to close in the first half of 2017.

ALSO READ Brazil reports record wind power generation

There are close to 300 early stage wind power projects across Latin America and the Caribbean in BNamericas' Database which includes:

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The European Investment Bank (EIB) signed a US$100mn loan agreement with the Dominican Republic government to help state power holding company CDEEE carry out a three-year project to improve electricity supply to over 680,000 homes.

EIB also announced that the European Commission complemented the loan with a grant of 9.2mn euros (US$10.2mn) through the Caribbean Investment Facility to support similar investments in the municipality of Santo Domingo Este, specifically in Los Mina where a large part of the population lives below the poverty line.

The financing was inked during the EU-Caribbean Sustainable Energy Conference in Barbados where the EIB, the EU and the Caribbean Forum of Countries signed a declaration to strengthen sustainable and renewable energy cooperation.

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The EBY joint venture that operates hydroelectric dam Yacyretá on the Argentina-Paraguay border reported that the complex generated 1.81TWh in September, up 15.9% year-on-year. EBY attributed increased output to greater water flow – up 12.6% to 14,369m3/second – as result of weather phenomenon La Niña.

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Bolivian state power generator Corani is accepting offers to carry out studies requested by national dispatch committee CNDC related to minimum generation and transmission technical requirements for the 120MW San José hydroelectric project.