August 6, 2008 / 8:34 AM / 10 years ago

Enel, SoWiTec to develop wind projects in Brazil

MILAN (Reuters) - Italy’s biggest utility Enel and German renewable energy company SoWiTec have agreed to jointly develop wind energy projects in Brazil worth up to 1,000 megawatts, Enel said on Wednesday.

Under the deal, Enel buys exclusive rights for eight wind projects, all at initial stages of development, and will have the right to buy these projects once they are completed by SoWiTec, Enel said in a statement.

Enel said the agreement would boost its presence on the Brazilian renewable energy market where wind power is expected to grow significantly.

Wind power installed capacity in Brazil is about 247 MW and another 149 MW are under construction, while the potential of wind power generation is estimated at about 143,000 MW, Enel said.

Enel has recently been pushing aggressively into wind power generation. The group’s installed wind capacity around the world stood at 1,002 MW at the end of June and it targets 5,000 MW by the end of 2012.

Last week, Enel said it will participate in wind power generation projects in Greece worth up to 1,400 MW.

Reporting by Svetlana Kovalyova

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