Impel Alhandra I Wind Farm

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The Brazilian company Cedin do Brasil Ltda was granted authorization to build a wind park located in the state of Paraiba (6,3 MW in total capacity), known initially as Parque Eolico Cedobras I (and later as Eolica Alhandra I). The 30-year contracts were signed with the regulatory agency ANEEL in April 2004. At the time of the authorization, the company’s ownership structure was established as follows: Vitorian Compra e Venda de Bens S.A. held 75% of the shares and an individual investor, 25%. In March 2011, all shares were transferred to the Spanish company Impel Telecomunicacoes e Energia Ltda, which committed to invest US$ 13.4 million (BRL 22 million) in the project. The company signed a financing contract with the state-owned bank BNB, and the wind park started operations in September 2011. The power plants were set to sell electricity to the national grid. Alhandra I signed power purchase agreements arranged with the state-owned company Eletrobras for 20 years through the Brazilian Federal program PROINFA (incentive program for alternative power generating companies). Operations commenced in September 2011.