Brazil's Renova PV/wind hybrid plan

Brazilian renewable energy company Renova will build a hybrid solar- and wind-power complex in the northeastern state of Bahia by the end of the 2015, the company's CFO Pedro Pilleggi said.

It will be Renova's first wholly-owned solar project, and aims to develop technologies and expertise, and to optimise electrical and transmission networks.

The project will be built by its special purpose company Itaparica Centrais Elétricas and will have solar capacity of 4.8MW and a wind capacity of 21.7MW, the company said.

Renova has signed a 10-year, R$108m ($49m) loan deal with Brazil's federal innovation financing company Finep for the project.

It will pay interest rates of 3.5% a year on the loan. Finep has already disbursed the first R$6.5m for the project, Pilleggi said.

Pilleggi told a conference call with investors that construction should start this year.

He added that the company has developed solar projects it hopes to sell at upcoming government auctions this year.

So far, Renova has only built solar projects for third parties.