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
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effici...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, gave users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion with b...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data professionals...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...