Energimp Ceara II Acarau Wind Farm

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The company Energimp, a partnership of the Argentine company Impsa (57.2%) and the Brazilian state-owned investment fund FI FGTS (42.8%), were granted authorizations to build a wind park located in the state of Ceara, known as Wind Park Ceara II – Acarau (211.2 MW in total capacity). The 35-year contracts were signed with the regulatory agency ANEEL in June 2010, and special purpose companies were created to manage the projects: * EOL Garcas (30 MW) – Nova Eolica Garcas S.A. * EOL Cajucoco (30 MW) – Nova Eolica Cajucoco S.A. * EOL Buriti (30 MW) – Nova Eolica Buriti S.A. * EOL Coqueiros (27 MW) – Nova Eolica Coqueiro S.A. * EOL Quixaba (25.2 MW) – Central Eolica Quixaba S.A. * EOL Lagoa Seca (19.5 MW) – Nova Eolica Lagoa Seca S.A. * EOL Vento do Oeste (19.5 MW) – Nova Eolica Vento do Oeste S.A. * EOL Araras (30 MW) – Nova Eolica Araras S.A. The total investment commited to the power plants was estimated at US$ 485 million. Financial closure was achieved in March 2011, when the state-owned bank BNDES granted US$ 344.7 million (BRL 562.6 million) in loans to the project companies. The power plant was set to sell electricity to the national grid. The project companies won the bidding process to establish 20-year power purchase agreements with electricity distribution companies in 2009. The company won by offering a tariff of US$ 84/MWh (BRL 151/MWh). Operations were set to commence in 2012. EOL Quixaba commenced operations in October 2012. EOL Buriti, EOL Coqueiros e EOL Cajucoco commenced operations in 2014.