Queiroz Galvao Amontada Wind Park

Active

The company Eolos Energias Renovaveis S.A., a wholly-owned subsidiary of the Brazilian company Queiroz Galvao S.A., was granted authorizations to build three wind parks located in the state of Ceara (76 MW in total capacity) municipality of Amontada. The 30-year contracts were signed with the regulatory agency ANEEL starting in December 2011. The following special purpose companies were created to manage each park: EOL Ilha Grande ( 30 MW) - Central Eletrica Ilha Grande Ltda EOL Ribeirao (22 MW) - Central Eolica Ribeirao Ltda EOL Boca do Corrego (24 MW) - Central Eletrica Palmas Ltda. The total investment in the power plants was estimated at US$ 131.2 million (BRL 308.5 million) and was financed with a loan granted by the state-owned development bank BNDES approved in July 2014, US$ 73.7 million (BRL 173.3 million). Commercial operations commenced in August 2014. 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 accelated depreciation methods of accounting for construction expenditures.