Co-Investing

BRAZIL Catanduba 60MW Wind Plant Project

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Project ID: 76000008
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The project was in Catanduba, Rio Grande do Norte,Northeast,Brazil, the total capacity was 120MW, divided into two phases, each phase is 60MW. The total investment of this project was $80.88 million, the IRR was 20%, payback time was 60 months.

    Project schedule:

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  • yan.l...i.com
  • 15301...61598
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Project Overview

Project name
BRAZIL Catanduba 60MW Wind Plant Project
Project type
Green
Sectors
Renewable Energy
Project location
Brazil Catanduba Catanduba, Rio Grande do Norte,Northeast,Brazil
Project region type
Mainland
Total investment amount
81.18 M USD
Investment type
Joint venture, Project-controlled
Internal Rate of Return
19.0%
Project developer
N*****

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Project Progress

1    Project Site Survey
 
5    Complete Project Investment Signing
 
2    Project Feasibility Study Report
 
6    Complete Project Financing Procedure
 
3    Project Land Permits
 
7    Complete EPC Project Signing
 
4    Project Various Permits
 
8    Complete Project Construction
 

Project Details

In 2015 ATP Soluções em Energia submitted their proposal for the engineering, procurement and construction (EPC) for the Catanduba farms. This proposal includes design work done with the Company for the turbine foundations, collector systems and substations. In July, 2015, the Company received a proposal from Gamesa for the purchase of twenty-seven 2.1 MW 120m turbines for the Catanduba farms, for a total price of R$228,042,000. The team has worked on over 85 different energy and infrastructure projects with a total capacity of approximately 750 MW. Management is exceedingly competent and ice provider. Based on the wind data and loss analysis, INEGI made the following central estimates for the three farms. P50 is defined as a 50% probability that the electricity generation exceeds the estimate and 50% probability of not exceeding the estimate. P90 denotes the level of annual wind-driven electricity generation that is forecasted to be exceeded 90% of the year. Energy is sold to distributors through a Dutch Anglo auction system organized by the Brazilian government. The energy sold through the auctions is distributed throughout Brazil depending on energy needs so there is no geographic demand risk within the country. The Brazilian government is currently prioritizing the expansion of wind energy capacity and even offering subsidized loans to distributors to ensure that the government’s targets are met.

Investment Environment

The Brazilian government is currently prioritizing the expansion of wind energy capacity and even offering subsidized loans to distributors to ensure that the government’s targets are met. For the Catanduba wind farms, the Company executed the power purchase agreements in September, 2014 for the A-5 auctions won in December, 2013 through the Dutch Anglo auction system organized by Brazil's National Electric Energy Agency (ANEEL). Under the agreement, which is for a term of 20 years, the distributors agreed to purchase 25.4 MW of the energy generated by the Catanduba wind farms for twenty years on a fixed-price basis (based on MWh) with an annual inflationary adjustment based on the current year’s annual IPCA rate. 1. Market Assessment Energy is sold to distributors through a Dutch Anglo auction system organized by the Brazilian government. The energy sold through the auctions is distributed throughout Brazil depending on energy needs so there is no geographic demand risk within the country. Demand consumption is projected to continue to expand substantially so the government has been increasing their purchases at auctions based upon these assumptions. 2. Raw Material Please see EPC and TSA proposed contracts included in the NESA Dropbox for further details. The contracts are proposals and have not been executed to date. Therefore, should the potential buyer of the project wish to use other corresponding contracts or materials, they may still choose to do so. 3. Demand and Sales Plan Catanduba I and II entered power purchase agreements (PPA’s) with distributors through Brazil's National Electric Energy Agency (ANEEL) auction system to secure a contract for a minimum of 25.4 MW of energy from the Catanduba locations beginning in 2018. We believe the price of R$121.80 as of November 2013 that includes annual IPCA inflation adjustments, along with other economic factors and assumptions, will allow the Catanduba wind farms to operate profitably. 4. Development Concept and Market Fit Analysis The government has specifically identified wind energy as one of the two most important forms of energy generation that Brazil would like to increase capacity for in the medium term and the market is a negligible percentage of the overall energy generation in the country at the moment. Thus, the potential for continued expansion in the market is exceptional from both the supply and demand sides right now.

81.18 M USD

Target investment amount

31.32 M USD
Confirmed investment
38%
Progress
Confirmed investors number:3
Co-investment deadline:2018-10-24

Lead investor :2

  • Beij****** LTD

    Conc******ted

Follow investor :1

  • Sino******Ltd.

Customer Representative

Mr Zhang Customer Manager

jing.zhang@bjciri.com

+86 13601315595