Vale, a global mining company, and Pacific Hydro (Australia) have announced a consortium agreement to jointly build and operate two wind farms in Brazil’s northeast.
Under the consortium agreement, each company will have 50% ownership of both wind farms, which are expected to be completed by late 2014. The projects will represent an investment of approximately R$650 million (AU$315 million). The wind farms will be located in Rio Grandedo Norte and have already been granted all necessary environmental permits. Vale will be the sole off-taker of clean electricity produced by the projects for a period of 20 years, utilising 100% of its generation as self-production for its operations.
Under the consortium agreement, each company will have 50% ownership of both wind farms, which are expected to be completed by late 2014. The projects will represent an investment of approximately R$650 million (AU$315 million). The wind farms will be located in Rio Grandedo Norte and have already been granted all necessary environmental permits. Vale will be the sole off-taker of clean electricity produced by the projects for a period of 20 years, utilising 100% of its generation as self-production for its operations.