Enel Wins Tender for Three Wind Farms in Brazil

12/20/17 01:11 PM EST
   By Nathan Allen 
 

Italy's Enel SpA (ENEL.MI) has won a Brazilian government tender to build three wind farms in the country's northeastern region with a combined capacity of 618 megawatts, the company said Wednesday.

Enel said it plans to invest about $750 million in the construction of the plants, which will generate about three terawatt hours of electricity per year.

The Italian utility said this is the second tender it won in Brazil this week, the two awards representing overall new capacity of more than 1 gigawatt and total investment of some $1 billion.

The wind farms will be supported by 20-year power supply contracts with local distribution companies, and are expected to enter operations in 2023, Enel said in a statement.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

Corrections & Amplifications

This item was corrected at 5:04 p.m. ET to show that Enel said this is the second tender it won in Brazil this week, the two awards representing overall new capacity of more than 1 gigawatt and total investment of some $1 billion. The original incorrectly stated this was the second renewable-energy contract Enel signed in Brazil this week and that it brought its total investment in the country to roughly $1 billion.

(END) Dow Jones Newswires

December 20, 2017 13:11 ET (18:11 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.