Votorantim Energia and the Canada Pension Plan Investment Board (CPP Investments) have formed a joint venture to fund growth in the construction of a large renewable energy cluster in Brazil. The JV’s investment plan in renewable energy assets includes new wind farms to be built in Serra do Inácio, a region between the states of Piauí and Pernambuco. The JV is setting up two new wind farms, Ventos do Piauí II and Ventos do Piauí III, with a total installed capacity of 409.2 MW. Once ready, these wind projects will increase the JV’s total installed capacity in the region to approximately 1 GW, which includes the already operational Ventos do Piauí I and Ventos do Araripe III complexes.
To this end, the company has signed a contract with Vestas to supply 93 latest wind turbines. These wind turbines will be produced at the Vestas plant, located in the city of Aquiraz, and will start to be delivered from the second half of 2021. The construction of these projects will start in the first quarter of 2021 and they are expected to become operational by 2022. According to the contract, Vestas will also provide maintenance services for these wind projects until 2040.
Moreover, Votorantim Energia has been exploring the possibility of setting up solar-wind hybrid projects in the region. Since 2017, the company has been conducting studies on solar power generation in the same region as the Ventos do Piauí I wind complex. Further, both the new projects, Ventos do Piauí II and Ventos do Piauí III have been designed to accommodate the possible hybridisation with solar energy in the future.