Brazilian industrial and infrastructure group Geoterra made the first move to ramp up its wind power base with the massive financial heft of new partner Harbin Electric of China behind it.
Geoterra obtained approval from environmental authorities for a 102MW wind complex in the northeastern state of Rio Grande do Norte, a few months after it signed a partnership deal with Harbin Electric that will see up to R$145bn ($35.6bn) of investments in energy – including wind, solar and wave – over the next eight years.
The complete Pedro Avelino complex plan is made up of four wind farms and will need investments of around R$3.5bn ($900m). It will be the fourth wind development in the group’s project pipeline that now adds up to over 500MW. The company didn’t say when the wind farm would be built.
Power equipment producer Harbin Electric is among China's largest state-owned industrial groups.
Logistics Group Geoterra owns Biogeoenergia, its energy subsidiary focused on small hydroelectric dams and waste-to-energy, and now wind and solar.
Like other nations in the region, Brazil has emerged as a target for investment by Chinese groups looking to invest in wind and solar growth, with notable examples including CGN, which successfully took part in recent auctions there following its purchase of local developer Atlantic.
Rio Grande do Norte is Brazil’s leading wind power district, accounting for 4GW of the country’s 15GW operating wind power capacity.
