Renewables developer Enel has started construction of a 716MW wind farm in Brazil, the biggest project of its kind in South America.
Enel will invest over €700m in the Lagoa dos Ventos project in the north-east state of Piaui, which is expected to enter operation in 2021.
Lagoa dos Ventos, comprising 230 turbines, is sited in the municipalities of Lagoa do Barro do Piaui, Queimada Nova and Dom Inocencio.
As well as being largest wind project under construction in South America Lagoa dos Ventos is also Enel’s biggest wind farm worldwide.
Enel Green Power head Antonio Cammisecra said: “The start of construction of this record-breaking wind project in Brazil is a major milestone for our presence in the country, which continues to be one of the most prominent markets for Enel Green Power.”
Out of the wind farm’s total installed capacity, 510MW was awarded to Enel in Brazil’s A-6 public tender in December 2017 and is supported by 20-year power supply contracts with a pool of distribution companies operating in the country’s regulated market.
Output from the remaining 206MW will be sold to retail customers on the free market.
Meanwhile in its preliminary consolidated financial results Enel closed 2018 with revenues of €75.6bn, up 1.3% on 2017.
The developer hit its earnings before interest, tax, depreciation and amortisation (EBITDA) target for 2018 recording €16.3bn, up 3.8% on 2017.
According to the company, the positive performance is mainly attributable to changes in the scope of consolidation, following the acquisitions of Enel Distribuicao Sao Paulo in Brazil in 2018 and of Enel X North America in 2017, as well as an increase in sales of renewables output in Italy, Spain and South America, plus growth in free market sales in Italy.