Caldeirao Grande I Wind Park

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The company Eolos Energias Renovaveis S.A., a subsidiary of the Brazilian company Queiroz Galvao Desenvolvimento de Negocios S.A. (Group Queiroz Galvao), was granted authorizations to build seven wind parks located in the municipality of Caldeirao Grande, state of Piaui (210 MW in total capacity, each power plant with 30 MW of capacity). The 30-year contracts were signed with the regulatory agency ANEEL starting in July 2014. The following special purpose companies were created to manage each park: * Central Eolica Coqueiral Ltda. – EOL Santo Amaro do Piaui * Central Eolica Cruzeiro Ltda. – EOL Santo Anastacio * Central Eolica Danubio Ltda. – EOL Sao Basilio * Central Eolica Florenz Ltda. – EOL Sao Felix * Central Eolica Japura Ltda. – EOL Sao Moises * Central Eolica Lira Ltda. - EOL Santa Veridiana * Central Eolica Notus Ltda. – EOL Veronica The total investment in the seven power plants of the complex was estimated at US$ 360 million (BRL 847.54 million). Financial closure was achieved in November 2014, when Santader, Itausa Investimentos Itau S.A. and ING Groep NV arranged a bridge facility amounting to US$ 276 million (BRL 649.1 million). The remaining of the project cost was equity financed (US$ 84 million or BRL 197.54 million). An EPC contract was signed with Alstom in December 2013. Construction works commenced in September 2014, and operations were expected to begin in 2015. In May 2016, additional financing of US$ 223.3 million was approved to the project by Banco Santander, ING Bank and Itau Unibanco.