Chinese electricity company SPIC has announced a significant investment of 780 million reais ($147.41 million) in the construction of two new wind farms in Northeastern Brazil. Additionally, the company has entered the Brazilian solar sector, inaugurating two large solar parks this week.
Adriana Waltrick, CEO of SPIC's Brazilian unit, highlighted the company's strategy of diversifying its portfolio and aiming to become one of Brazil's top three energy generators. The new wind farms, located in Rio Grande do Norte state, will have a combined installed capacity of 105.4 megawatts (MW) and are intended to be sold on the free energy market. Construction is slated to commence by January 2025, with operations expected to begin the following year.
The solar parks, located in Piaui and Ceara states, have a total installed capacity of 738 megawatts-peak (MWp). SPIC holds a 70% stake in these parks, which were acquired in 2022 while still under development by Recurrent Energy, formerly known as Canadian Solar. Waltrick noted that the solar plants received 2 billion reais in investments, and all energy produced will be sold on the free energy market, with 65% already secured under long-term contracts.
CEO Waltrick emphasized SPIC's enthusiasm for Brazil and renewable energy sources, stating, “These projects demonstrate the appetite we have for Brazil and for renewable energy sources.”
SPIC currently boasts approximately 3,800 MW of installed capacity in Brazil, considering the country as one of its priority markets. The company is eagerly awaiting news from the Brazilian government regarding energy auctions planned for this year and expresses interest in participating in potential bids for new hydroelectric plants, should the government decide to resume such projects.
In addition to wind and solar projects, SPIC is exploring the production of green hydrogen associated with offshore wind turbines, a technology the company has expertise in outside Brazil. These initiatives further underscore SPIC's commitment to sustainable energy development in Brazil.
