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.

- Acquisition of 100% of shares of the Chapada do Piaui III wind farm with a 20 year PPA awarded in November 2013 A-3 auction, adding 59.2 MW of new generation to the portfolio


- Acquisition of minority interests from Casa dos Ventos in ContourGlobal's wind projects Chapada do Piaui I (15%), Chapada do Piaui II (5%), and Asa Branca (15%)


- Total acquisition price is R$180 million (US$78.5 million)


- Total R$1.9 billion (US$845 million) investment in the Chapada do Piaui complex


- Entire complex will use wind turbines manufactured by General Electric

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 BST on Thursday, August 7th via the following dial-in numbers:


Confirmation Code:

1725220





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

+1-718-354-1357


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.


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
Most of the time there is a lot of work involved to move to the cloud, and most of that isn't really related to AWS or Azure or Google Cloud. Before we talk about public cloud vendors and DevOps tools, there are usually several technical and non-technical challenges that are connected to it and that every company needs to solve to move to the cloud. In his session at 21st Cloud Expo, Stefano Bellasio, CEO and founder of Cloud Academy Inc., will discuss what the tools, disciplines, and cultural...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
SYS-CON Events announced today that Interface Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Interface Corporation is a company developing, manufacturing and marketing high quality and wide variety of industrial computers and interface modules such as PCIs and PCI express. For more information, visit http://www.i...
SYS-CON Events announced today that Keisoku Research Consultant Co. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Keisoku Research Consultant, Co. offers research and consulting in a wide range of civil engineering-related fields from information construction to preservation of cultural properties. For more information, vi...
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that Fusic will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Fusic Co. provides mocks as virtual IoT devices. You can customize mocks, and get any amount of data at any time in your test. For more information, visit https://fusic.co.jp/english/.
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
Real IoT production deployments running at scale are collecting sensor data from hundreds / thousands / millions of devices. The goal is to take business-critical actions on the real-time data and find insights from stored datasets. In his session at @ThingsExpo, John Walicki, Watson IoT Developer Advocate at IBM Cloud, will provide a fast-paced developer journey that follows the IoT sensor data from generation, to edge gateway, to edge analytics, to encryption, to the IBM Bluemix cloud, to Wa...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
SYS-CON Events announced today that Enroute Lab will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enroute Lab is an industrial design, research and development company of unmanned robotic vehicle system. For more information, please visit http://elab.co.jp/.
With the rise of DevOps, containers are at the brink of becoming a pervasive technology in Enterprise IT to accelerate application delivery for the business. When it comes to adopting containers in the enterprise, security is the highest adoption barrier. Is your organization ready to address the security risks with containers for your DevOps environment? In his session at @DevOpsSummit at 21st Cloud Expo, Chris Van Tuin, Chief Technologist, NA West at Red Hat, will discuss: The top security r...