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Pan American Energy Group, Funded by the National Bank for Economic and Social Development (BNDES), Will Invest Billions in the Construction of a New Wind Power Plant in Bahia.
The National Bank for Economic and Social Development (BNDES) has approved financing for Pan American Energy for the construction of a new wind power plant. The bank will also finance a wind complex and a solar plant along with their respective transmission lines, in the states of Bahia and Minas Gerais. In total, the company will invest R$ 3 billion in the wind plant, which will have an installed capacity of 423 MW. With total investments exceeding R$ 10.6 billion, the bank’s participation will be made through the BNDES Finem program.
Pan American Energy Will Install Wind Power Plant in Bahia with an Investment of R$ 3 Billion
The company’s venture marks the group’s arrival in Brazil. Pan American Energy also operates in Uruguay, Bolivia, Paraguay, Mexico, and Argentina. The Novo Horizonte Wind Complex, owned by Pan American Energy, located in the Bahian municipalities of Novo Horizonte, Boninal, Ibitiara, Brotas de Macaúbas, Oliveira dos Brejinhos, and Piatã, consists of 10 wind power parks, of which eight will receive support of R$ 900 million from BNDES for their installation.
The project will total investments of R$ 3 billion, with an installed capacity of 423 MW of total power. The new plant will also consist of 79 km of 500 kV transmission lines and a power substation to connect the wind plant to the National Interconnected System (SIN). The bank also plans to finance the Serra do Assuruá wind power complex, developed by the Engie Group, which is located in the municipality of Gentio do Ouro, in Bahia.
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Following the loan of R$ 1.5 billion from BNDES, the project is expected to begin generating electricity, in stages, from July 2024 to June 2025.
BNDES Will Also Support the Installation of a Solar Plant
In addition to the wind power plant of the Pan American Energy Group, the bank will also finance the Boa Sorte Solar Complex, developed by the Atlas Group. The project will consist of eight solar plants and is located in the municipality of Paracatu, Minas Gerais. The bank’s support will be R$ 1.1 billion.
The project’s scope also covers the installation of the supervision, control, security, local and remote monitoring systems, as well as communication systems. The complex will feature more than 778,000 solar power panels. The operations of the project are expected to commence as early as January 2025.
Pan American Energy Signs Partnership with Vestas
Pan signed a contract with Vestas in May of last year for the supply and installation of 94 V150-4.5 MW wind turbines for the Novo Horizonte wind power park, located in Bahia.
According to Eduardo Ricotta, president of Vestas in Latin America, Vestas is pleased to further expand its partnership with Pan American Energy, supporting their growth in Latin America with this wind energy project that begins operations to produce clean energy in Brazil.
The vice president of International Development at Pan American Energy, Enrique Lusso, emphasizes that the agreement demonstrates the company’s commitment to Brazil and its communities.
The company will continue to expand its investments and strive to become a strategic player in the energy sector of the country, as well as in other countries in Latin America. Following the completion of the turbines for the wind power park, Vestas will also sign a 20-year Active Output Management 5000 service contract.
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