EDF, Sowitec sign 800MW Brazil wind deal

Wednesday, February 25, 2015

French utility EDF has signed a deal with German renewable energy developer Sowitec to build 800MW of wind farms in Brazil.

In a statement, EDF's renewable energy arm, Energies Nouvelles, said the projects would belong to its newly formed subsidiary, EDF EN do Brasil.

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Sowitec, which previously held a 100% interest in the wind farms, has assumed a 20% stake in the venture.

Financial details of the agreement were not revealed.

Energies Nouvelles CEO Antoine Cahuzac said the company aimed to use the deal as a springboard for regional expansion.

"Brazil has tremendous wind energy potential and a regulatory framework that is favorable to a massive expansion of renewables in the energy mix," Cahuzac said.

Brazil is currently ranked 10th in the world for installed wind capacity with 5.9GW. The government aims to lift the figure to 22.5GW by 2023.

* Provisional figure ** Projects fully commissioned, grid connections pending in some cases