Construction Works of Wind Farm Complex in Bahia to Resume After Approval of Million-Dollar Financing from Renova Energia

Written by Kelly

Published on 10/09/2020 at 10:38

Aerogerador de energia eólica da Renova/Imagem: Divulgação

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The Resources of R$ 350 Million Will Be Used to Restart the Works of Phase A of the Alto Sertão III Wind Farm in Bahia, and Will Allow Cash Generation to Settle Debts of Renova Energia

After being halted for years with almost 90% completed due to lack of resources, the works of the Alto Sertão III wind farm in Bahia will resume! The Board of Directors of Renova Energia, which has the state-owned mine Cemig as its main shareholder, approved the financing of up to R$ 350 million by the company Quadra Gestão de Recursos on Tuesday (08).

Works of the Alto Sertão III Wind Complex in Bahia

The Alto Sertão III wind complex, located in Bahia in the municipalities of Caetité, Guanambi, Igaporã, Licínio de Almeida Macaúbas, and Pindaí, has had the works halted due to “Economic difficulty in the feasibility of the project,” according to the ANEEL works monitoring.

Although advanced, the works of the Alto Sertão III wind farm have been stopped for three years, and consequently, Renova’s complex generates no revenue or cash for the business. The Alto Sertão I and II wind farms, much smaller, had their works started and sold before their completion.

About Renova Energia

Founded in 2001, Renova Energia is a Brazilian renewable electric power generation company with operations in wind, small hydroelectric plants (PCHs), and solar energy. Since 2009, its operations have been strongly focused on wind source projects, where it is a pioneer, having established at that time the largest wind complex in Latin America in the southwest of Bahia.

As a differentiator in its operations, it has the qualification to operate integratedly across various stages of the power generation chain, carrying out prospecting, deployment, and operation of the enterprises.

Construction Works of Wind Farm Complex in Bahia to Resume After Approval of Million-Dollar Financing from Renova Energia

The Resources of R$ 350 Million Will Be Used to Restart the Works of Phase A of the Alto Sertão III Wind Farm in Bahia, and Will Allow Cash Generation to Settle Debts of Renova Energia

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Works of the Alto Sertão III Wind Complex in Bahia

About Renova Energia

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Construction Works of Wind Farm Complex in Bahia to Resume After Approval of Million-Dollar Financing from Renova Energia

The Resources of R$ 350 Million Will Be Used to Restart the Works of Phase A of the Alto Sertão III Wind Farm in Bahia, and Will Allow Cash Generation to Settle Debts of Renova Energia

See Also

Works of the Alto Sertão III Wind Complex in Bahia

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A German architect built a cylindrical house in 1994 that rotates to follow the sun throughout the day, generates 5 times more energy than it consumes, and was the world’s first energy-positive house.

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