Serveng Civilsan Rio Grande do Norte Wind Farms

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The Brazilian company Serveng Civilsan S.A. was granted authorizations to build ten wind parks located in the state of Rio Grande do Norte (169.6 MW in total capacity). Three subsidiaries were created to manage the wind parks: Uniao do Ventos 1, 2, 3, 5, 7 were to be managed by Uniao dos Ventos Geradora Eolica S.A.; Uniao dos Ventos 4, 6 and 9, by Ventos Potiguares Geradora de Energia S.A.; and Uniao do Ventos 8 and 10, by Caicara dos Ventos Geradora Eolica S.A. The 30-year contracts were signed with the regulatory agency ANEEL in June 2011. The private sponsor committed to invest US$ 444 million (BRL 723.7 million) in the construction of the ten wind parks. In April 2011, the state-owned institution Sudene approved a line of credit worth of US$ 273.1 million (BRL 445 million). In December 2011, the state-owned development bank BNDES approved a US$ 331.2 million (BRL 557.1 million) loan to the project. The company also had requested funding from the IADB (US$ 66 million or BRL 107.6 million) A-Loan contract), whose appraisal had not been undertaken as of November 2011. The Company has already signed a 15-year power purchase agreement (PPA) to sell all the electricity generated by the Project, which is expected to commence operations on January 1, 2013. Construction works have not begun as of November 2011. Commercial operations commenced in April 2014.