Santander buys 40% in Brazil wind venture BW Guirapa I
According to local sources, Spanish banking group Santander has purchased a 40 % stake in Brazillian wind development company BW Guirapá I.
BW Guirapá I is building a project that includes seven wind farms representing a combined capacity of 170MW.
The project, with a total estimated investment of BRL630 million ($257 million), was won by Guirapa at the Energy Reserve auction performed by ANEEL in 2011. Construction of the project is expected in the second half of 2014, and a total of 92 turbines will be installed.
Brazil Wind, a wind energy subsidiary of Brazilian power company Brasil Energy, will keep 60% in BW Guirapa I.
Santander's investment in the wind farms, developed in Bahia's municipalities of Pindai and Caetite, is estimated at up to BRL 155 million (US$64.8 million/€48.4 million).
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