Chapada do Piaui I Wind Park

active

Prospective

The companies Contour Global do Brasil (37%), a subsidiary of the American company Contour Global, the state-owned Brazilian company CHESF (49%) and the Brazilian investment fund Salus (14%) were granted authorizations to build seven wind parks located in the state of Piaui (210 MW in total capacity). The 35-year contracts were signed with the regulatory agency ANEEL starting in March 2014. The following special purpose companies were created to manage each plant: * Ventos de Santa Joana IX Energias Renovaveis S.A. – EOL Ventos de Santa Joana IX * Ventos de Santa Joana X Energias Renovaveis S.A. – EOL Ventos de Santa Joana X * Ventos de Santa Joana XI Energias Renovaveis S.A. – EOL Ventos de Santa Joana XI * Ventos de Santa Joana XII Energias Renovaveis S.A. – EOL Ventos de Santa Joana XII * Ventos de Santa Joana XIII Energias Renovaveis S.A. – EOL Ventos de Santa Joana XIII * Ventos de Santa Joana V Energias Renovaveis S.A. – EOL Ventos de Santa Joana XV * Ventos de Santa Joana XVI Energias Renovaveis S.A. – EOL Ventos de Santa Joana XVI The total investment in the power plants of the wind complex was estimated at US$ 306.4 million (BRL 720.3 million). In July 2014, the state-owned development bank BNDES approved a US$ 135.9 million (BRL 319.5 million) loan to the project. In March 2015, BNDES approved another US$ 186.5 million loan to the project (BRL 555 million). The government periodically runs public bidding for the sale of energy to the country´s distribution companies. The six power plants controlled by Contour Global won the public bidding that took place in 2013, by offering an average tariff of US$ 46.8/MWh (BRL 109.96/MWh). The project companies signed 20-year power purchase agreements with the several electricity distribution companies. Contour Global committed to start supplying to the market in 2015. The company was granted the right to take part in the government program called Regime Especial de Incentivos para o Desenvolvimento da Infra-Estrutura (Reidi). Companies selected to take part in this program were given tax cuts in the acquisition of capital equipment and construction material acquired both in the domestic and international markets (this incentive represented a cost reduction of about 9.25%). In addition, the company was allowed to use accelerated depreciation methods of accounting for construction expenditures.

Energy

World Bank Group

Project

Steel, Car parking, Wind, Raw Materials, Power Generation (CCGT), Government, Manufacturing (Industrial), Automotive, Commercial