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EDP Renováveis Secures 532 MW in Brazilian Wind Energy Projects

EDP Renováveis Secures 532 MW in Brazilian Wind Energy Projects

EDP Renováveis, renewable energy company member of the Portuguese Group EDP-Energías, has acquired through is affiliate EDP Renováveis Brasil several wind energy projects that amount to a total power of 532 MW.  The operation was made through the purchase of 100% of the shares of the Brazilian company Elebrás Proyectos, subsidiary of the of the Germany company InnoVent. The purchase of Elebrás, for some 2 million euros, is in line with the strategy of the EDP Group, fourth ranked wind energy operator in the world, which is determined to also be a notable renewable energy company in Brazil, especially in the area of wind energy. EDP Renováveis initiated its expansion in the Brazilian wind market last year when it purchased Cenaeel, with 14 MW of operating power, in the state of Santa Catalina.  Now it is taking another step toward the consolidation of its strategy. Elebrás has a project portfolio totalling 532 MW, 70 MW of which belong to the Proinfa Project.  The remaining 452 MW are in different stages of development.  The projects are located in Rio Grande do Sul, one of the most favourable regions for the development of wind energy. With this operation, the Group expands its presence in the Brazilian market, increasing 532 MW to its portfolio, which added to the 14 MW from Cenaeel (SC), and to the projects under study (70 MW in Santa Catalina and 216 MW in Espiritu Santo), a total of 832 MW can be summed up for wind energy generation projects. In addition, EDP Renováveis Brasil continues, to maintain alliances with Cemig and Petrobras for the joint development of wind energy studies. The term of the operation is pending administrative y regulatory approvals.   ABOUT EDP RENOVÁVEIS EDP Renováveis is the renewable energy company belonging to the Group EDP-Energias de Portugal.  It is present in six European countries, United States and Basil. With a wind capacity of 5,052 megawatts (MW) from its wind farms at the end of 2008, EDP Renováveis is the fourth largest wind energy operator in the world and third in Europe, Spain and the United States. EDP Renováveis increased its electricity production 78% in 2008, up to 7,804 GWh, in concordance with the strong increase of installed power during the financial year, i.e. 1,413 MW.  EDP Renováveis expects to almost triple its wind capacity between 2007 and 2012, until it reaches 10,500 MW.  In addition, to the 5,052 MW of wind power already in operation in eight countries, EDP Renováveis has 769 MW under construction, 569 MW of which are found in European wind farms and 199 MW in the United States, plus a project portfolio of 29,000 MW. In 2007, the EDP Group purchased the North American company Horizon Wind Energy, whose wind generators totalled 1,733 MW of installed power.  With headquarters in Houston (Texas), Horizon is the third North American wind energy company present in the states of New York, Oregon, Illinois, Oklahoma, Texas, Kansas, Iowa and Minnesota.  The company has a project development portfolio of around 18,000 MW spread across twenty states. EDP Renováveis is the third sector operator in Europe, where it has a wind capacity of 2,894 megawatts distributed among its wind farms in Spain (2,109 MW), Portugal (553 MW) and the rest of Europe (232 MW).  In addition to the Iberian Peninsula, the EDP Group’s renewable energy company is present in France, Belgium, Poland and Romania. The company withdrew from the stock market 22.5% of the company capital in June, prior to expansion, which it placed among institutional investors and retail investors in several countries, as well as among workers of the EDP Group.  Several Spanish savings and loan institutions and banks also responded to the institutional sale. EDP Renováveis wind generators are spread throughout eight Spanish Autonomous Communities: Asturias, Galicia, Aragón, Castilla y León, Castilla-La Mancha, Andalucía, the Canary Islands and Catalonia.