Renova Energy Builds New Wind Farm In Bahia To Recover, With Capacity Of 432 MW

Written by Roberta Souza

Published on 27/12/2021 at 13:34

Updated on 27/12/2021 at 13:35

Foto: reprodução google

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The New Wind Farm of Renova Energy in Bahia Will Have Capacity to Supply Almost 1 Million Homes

Renova Energy is trying to recover from the crisis it is in by starting operations at the Alto Sertão III wind unit in Bahia. In judicial recovery since October 2019, it was the only wind farm that remained with the company after the sale of various assets to settle debts in the market.

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The wind farm will generate R$ 250 million in cash (EBITDA) per year, as it has the capacity for 432 megawatts (MW), an amount sufficient to supply almost 1 million homes. “This will be the pillar for liquidating the company’s debts,” said the company’s president, Marcelo Milliet.

In total, R$ 2.5 billion was invested in the unit, which will have 155 wind turbines and 208 kilometers of transmission lines, spread across six municipalities in Bahia (Caetité, Igaporã, Pindaí, Licínio de Almeida, Riacho de Santana, and Guanambi).

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Recovery Negotiations

However, the situation became difficult, and the largest wind energy company in Brazil had to sell its main parks to settle debts. Only a few Small Hydropower Plants (PCHs) and Alto Sertão III remained, which is currently Renova Energy’s biggest bet to recover. However, this goal has involved several transactions and changes.

It was only possible to resume the construction of the wind farm after a R$ 360 million loan in the DIP (debtor-in-possession) modality – a form of financing for companies in judicial recovery. Another operation that contributed to the cash flow was the sale of Brasil PCH for R$ 1.1 billion. With the capital, part of the DIP loan and some other creditors’ payments were made, according to Marcelo.

Renova Energy also sold the Serra da Prata Hydroelectric Complex (Espra) for R$ 265 million. The negotiation still depends on regulatory authority approvals. The sales will help reduce the company’s R$ 2 billion debt, which will mature over a ten-year period.

Project Portfolio

Renova Energy has a project portfolio of 6 gigawatts (GW) of power. A portion will be sold to other investors in the segment. “Another slice will be reserved for the company,” declared the company’s president, Marcelo Melliot. He also stated that there are hybrid projects, combining wind and solar energy, to be developed, including the Alto Sertão III park. However, Renova should follow a slower pace than in the past to build new ventures. Instead of megaprojects, the company should focus on smaller wind and hybrid parks being built in smaller portions. “We have the capacity to become a major player in the market again.”

Renova Energy Builds New Wind Farm In Bahia To Recover, With Capacity Of 432 MW

The New Wind Farm of Renova Energy in Bahia Will Have Capacity to Supply Almost 1 Million Homes

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Recovery Negotiations

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Renova Energy Builds New Wind Farm In Bahia To Recover, With Capacity Of 432 MW

The New Wind Farm of Renova Energy in Bahia Will Have Capacity to Supply Almost 1 Million Homes

Also Check Out:

Recovery Negotiations

Project Portfolio

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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