Project Description
Enel Wind Brazil (the “Project”) comprises the development, construction and operation of 12 wind power plants (the “Sub-Projects”) located in five clusters across three states of Brazil’s northeast totaling approximately 342MW of installed capacity. The capital expenditures required to implement the Project total approximately US $600 million. Enel Brasil Participações (“EBP” or the “Company”), a wholly-owned subsidiary of Enel Green Power (“EGP” or the “Sponsor”), is developing each wind power plant through fully owned Special Purpose Entities (“SPEs”) and has successfully secured Power Purchase Agreements (“PPAs”) in a blend of 20 year regulated market contracts (“Regulated PPAs”) and medium-term Free Market contracts (“Free Market PPAs”). The Regulated PPAs were awarded in the Brazilian power auctions of 2010, 2011, 2012 and 2013. The off-taker in these PPAs is the Brazilian wholesale energy market, comprised of a pool of Brazilian distribution companies. The Company will also sell approximately a third of the energy production under contracts negotiated with large energy users/power distribution companies in Brazil’s free energy market. EBP has ordered the turbines from top-class manufacturers and started construction of the projects which are expected to become operational over the next 24 months.