Welcome!

News Feed Item

ContourGlobal Expands And Consolidates Operations In Its Chapada Do Piaui Wind Complex And Buys Out Minority Interest In Its Asa Branca Wind Farm, Adding An Additional 122.6 MW To Its Growing Wind Portfolio

Acquisition increases contracted assets to 633 MW in Brazil and 1,200 MW in Latin America.ContourGlobal also announces that Brazil's State Development Bank, BNDES, has disbursed R$320 million (US$142 million) to ContourGlobal's Chapada do Piaui I project.

SAO PAULO and NEW YORK, Aug. 5, 2014 /PRNewswire/ -- ContourGlobal, an international power generation company, announced today that it has acquired an additional 122.6 MW of installed wind capacity in Brazil through a transaction with Casa dos Ventos.  The transaction expands ContourGlobal's operations in the attractive Chapada do Piaui wind complex located in Brazil's windy northeast adding a new 59.2 MW fully contracted wind project (Chapada III) located adjacent to its existing Chapada I and Chapada II wind farms. 

Additionally, ContourGlobal has acquired Casa dos Ventos's minority interest of 5% in Chapada II and will acquire its minority interest of 15% of Chapada I as well as its minority interest of 15% in the 160 MW Asa Branca wind farm that ContourGlobal placed into operation in September 2013.  The acquisition of the interests in Chapada I and Asa Branca will close imminently upon the approval of BNDES – Banco Nacional de Desenvolvimento Economico e Social, who financed both projects.  With the acquisition of the minority interests, ContourGlobal will own 100% of Asa Branca and Chapada III and 51% of Chapada I and II, in partnership with CHESF - Companhia Hidro Eletrica do Sao Francisco.

"We are consolidating our presence in Brazil's wind sector by adding new high quality and contracted wind farms in a market in which we have been present since 2006. The acquisition of an additional equity stake in Chapada I and II builds on the successful partnership we have with CHESF," stated Ms. Alessandra Marinheiro, ContourGlobal Latam's Chief Executive Officer.

ContourGlobal President and Chief Executive Officer Joseph C. Brandt commented, "Brazil's well-structured commercial and legal framework for wind projects and the exceptional quality of its wind resources continue to present attractive development opportunities for us.  We are especially pleased to continue to build our partnership with General Electric who has provided us nearly 600 MW of wind turbines, and with BNDES who has provided us with R$941 million (US$406 million) financing to date."

Located approximately 400 kilometers from Teresina, ContourGlobal's Chapada do Piaui Complex represents approximately R$1.9 billion (US$845 million) of total investment and is also expected to be financed by Brazil's state development bank BNDES who on July 25th, 2014 made a first disbursement of R$320 million (US$142 million) for Chapada I, the first wind farm in the complex to enter into construction. 

About ContourGlobal
ContourGlobal is an international generation company, headquartered in New York with approximately 3,718 MW in operation and under construction in 17 countries and on four continents. With 1,600 employees, the company operates a portfolio of 41 plants using a wide range of fuels and technologies, including the production of renewable energy from hydro, wind, solar and biomass sources, as well as an extensive fleet of conventional thermal.

In Latin America, ContourGlobal Latam has 1,626 MW in operation, construction and development in Brazil, Colombia, Peru, Mexico and the Caribbean. Its current portfolio consists of 660 MW in operation in Brazil, Colombia and the Caribbean, 551 MW of wind projects under construction in Brazil and Peru, and 415MW of wind and hydro projects in development in Mexico and Brazil. In Brazil, in addition to the 160 MW Asa Branca wind complex in Rio Grande do Norte, the company operates two hydroelectric power plants in the State of Goias, Sao Domingos II, with 24 MW of installed capacity, and Galheiros I, with 12 MW of installed power.

ContourGlobal will be holding a conference call for investors at 10:00 EDT/15:00 GMT on Thursday, August 7th via the following dial-in numbers:


Confirmation Code:

1725220





Participants,  Local - New York, United States of America:

+1718 354 1357


Participants,  Local - London, United Kingdom & International:

+44(0)20 3427 1902

Participant Access - Dial in 5-10 minutes prior to the start time using the number / Confirmation Code above.

SOURCE ContourGlobal

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
SYS-CON Events announced today that Sheng Liang to Keynote at SYS-CON's 19th Cloud Expo, which will take place on November 1-3, 2016 at the Santa Clara Convention Center in Santa Clara, California.
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...