ContourGlobal Asa Branca Wind Farm

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The company Contour Global do Brasil, a wholly-owned subsidiary of the American company Contour Global, was granted authorizations to build five wind parks located in the state of Rio Grande do Norte (150 MW in total capacity, municipalities of Joao Camara, Jandaira and Parazinho). The 35-year contracts were signed with the regulatory agency ANEEL starting in April 2011. The following special purpose companies were created to manage each park: Asa Branca IV Energia Renovaveis Ltda, Asa Branca V Energia Renovaveis Ltda, Asa Branca VI Energia Renovaveis Ltda, Asa Branca VII Energia Renovaveis Ltda and Asa Branca VIII Energia Renovaveis Ltda. The power plants were named EOL Asa Branca IV, EOL Asa Branca V, EOL Asa Branca VI, EOL Asa Branca VII and EOL Asa Branca VII, each with 30 MW in capacity. The total investment in the power plants was estimated at US$ 440.5 million (BRL 600 million) and was financed with a loan granted by the state-owned development bank BNDES approved in December 2011 (US$ 277.6 million or BRL 453.1 million). All special purpose companies signed power purchase agreements arranged with the state-owned company Eletrobras for 15 years through the Brazilian Federal program PROINFA (incentive program for alternative power generating companies) in August 2010. Commercial operations commenced in December 2014.