Renova Energia SA (RNEW11), a Brazilian renewable energy company, received approval to start a 294.4 megawatt project in the northeastern state of Bahia, two years behind schedule after a delay in making grid connections.
Brazil’s electricity regulator, known as Aneel, authorized the 14 wind parks of Alto Sertao I to start working today, the government’s official gazette said this morning. With 184 turbines, the wind complex is Latin America’s biggest, according to the company’s website.
The project was ready in July 2012 after Renova won contracts to sell energy in a government auction in 2009.
“We chase competitivity, and the most important thing for us is to have high scale projects,” Pedro Pileggi, finance director of Renova, said in a telephone interview.
With a total of 1.8 gigawatts of installed capacity in Brazil, Renova is one of the biggest owners of wind projects in the country. The Alto Sertao I is two years late.
The state-run Chesf, a unit of Centrais Eletricas Brasileiras SA, connected transmission lines and a transformer substation in May. It has been behind on connecting many wind farms. Chesf didn’t immediately return requests of comment.
Renova, which is controlled by Cia. Energetica de Minas Gerais, or Cemig, got June a 1.04 billion-real ($459 million) loan from the BNDES development bank last month for Alto Sertao II, a 386.1-megawatt complex also located in Bahia state. That is a 1.4 billion-real project. Its first phase is intended to start working in October. The second phase will deliver energy to grid in 2015, according to Pileggi.
In September, Renova will start work on the 700-megawatt Alto Sertao III project, he said. For Sertao I and II, the company bought turbines from General Electric Co. For Alto Sertao III, Alstom SA (ALO) is the supplier.
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