Statkraft Energias Renováveis SA secured power purchase agreements totaling 375.6 MW in a Brazilian auction for wind energy capacity.
The contracts with Brazilian electric distribution companies cover 40% of the output from Statkraft's power plants. The remaining 60% of the output will be sold in the free market at spot prices or through corporate power purchase agreements.
The contracts were awarded at fixed average prices of 96 Brazilian reais to 100 Brazilian reais per MWh ($23.60 to $24.60) for 20 years, beginning Jan. 1, 2025.
The company's Ventos de Santa Eugenia and Serra de Mangabeira wind farms participated in the auction. Serra de Mangabeira is 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, Statkraft said in an Oct. 22 press release.
Statkraft AS is a Norwegian state-owned energy company, and has looked to Brazil as a key growth market.
As of Oct. 22, US$1 was equivalent to 4.07 Brazilian reais.