News Release from GE Renewable Energy


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Brazil - Bioenergy signs wind energy contract with GE

Bioenergy has agreed to purchase 18 wind turbines this year and 36 in 2012 for wind farm projects in Rio Grande do Norte. The cost of wind power is dropping rapidly in Brazil

General Electric - A member of Windfair.netGeneral Electric - A member of Windfair.net
Brazilian renewable energy developer Bioenergy has announced that it has signed a deal valued at up to BRL1.4bn (US$840m) to buy wind turbines from General Electric (GE).

The company has agreed to purchase 18 wind turbines this year and 36 in 2012, at a total value of BRL250m, with the option of purchasing up to 250 from GE in 2013.

Judging by a 10% YoY drop in the prices for wind power in an alternative energy auction held in 2010, the cost of wind power is dropping rapidly, due to a combination of an appreciating BRL, reduced global competition for parts, increased domestic wind turbine production and higher economies of scale.

However, Bioenergy does not expect this tend to continue much longer, due to the need to protect margins. It is currently developing 86.4MW of capacity contracted at a recent auction and will finance this development via debt from state-controlled banks and may look to domestic and international capital markets to finance 30% of its spend on future projects.

Bioenergy currently has around 358MW of projects in the implementation phase and another 900MW in development. It is also looking to build a 1MW solar power pilot plant in Rio Grande do Norte state, where the majority of its wind power projects are located.

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General Electric
Posted by Trevor Sievert, Online Editorial Journalist
GE Energy; wind energy, wind power, wind turbine, onshore, offshore, windmill, www.windfair.net, Trevor Sievert, ECA

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