New contract in the renewable energy market: BP and Casa dos Ventos sign a 5-year partnership

British oil and gas giant BP has signed a off-take contract with the Brazilian developer Casa dos Ventos to buy electricity generated by the Rio do Vento wind farm, which will be another investment in the renewable energy market.

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15-year contract from BP and Casa dos Ventos will contribute to the renewables market

Under the terms of the power purchase agreement (PPA), BP's power trading business, Comercializadora de Energia, will receive a supply of electricity for 15 years. The PPA comes into effect in 2023.

Casa dos Ventos is currently working on the construction of a wind farm in an area in the state of Rio Grande do Norte. Once in operation, the complex should have more than 1 GW of total installed capacity.

The Rio do Vento project is supported by several PPAs in addition to the BP. So far, battery manufacturer Grupo Moura, mining multinational Anglo American and local digital solutions company TIVIT have acquired a portion of Rio do Vento's production.

Vestas contract

Casa dos Ventos also announced a new wind turbine contract for the Danish manufacturer Vestas, for 80 machines that will add up to 360 megawatts in capacity.

The turbines will be for the Babilônia project, in Bahia, and are expected to be delivered in the second half of 2022. Commissioning is estimated for the second quarter of 2023. Casa dos Ventos says that a large part of the plant's production will be negotiated with companies in the free energy market.