News Release from Statkraft AS

Wind Industry Profile of

Statkraft AS

10/23/2019

Statkraft awarded 375.6 MW of wind power contracts in Brazil

Statkraft Energias Renovaeis SA (SKER) has been awarded contracts securing grid connection in an expedite way for 375.6 MW of new wind power capacity in Brazil, and fixed average prices of 96 to 100 BRL/MWh for 20 years, starting January 1, 2025.

Image: Statkraft

The power purchase agreements (PPAs) with Brazilian distribution companies covers around 40 percent of the expected output, equal to 766 GWh/year. The remaining 60 percent of the production will be sold in the free market, based on spot prices or corporate PPAs.

The projects bid into the auction were Ventos de Santa Eugenia which SKER recently acquired in the market and Serra de Mangabeira, a wind project developed by SKER itself as an extension of the existing Bahia wind farm.

The total complex has a capacity of 498 MW, and the remaining 120 MW will be participating in upcoming auctions or subject to free market contracts. Our ambition is to construct the total capacity of 498 MW.

“This a great achievement and a milestone on the way to fulfil our ambition of developing 6000 MW of wind power globally by 2025,” says CEO Christian Rynning-Tønnesen.

Going forward, the projects will be further developed by SKER, where Brazilian pension fund FUNCEF is a minority shareholder of 18.7 percent. Negotiations with suppliers starts immediately, and the goal is to have the new wind power capacity by end of 2024 at the latest.

Participating in its first auction in Brazil, Statkraft won contracts equal to 48.3 percent of the total wind power capacity awarded in the auction.