March 31 (Renewables Now) - Brazilian renewable energy developer Casa dos Ventos Energias announced today it has signed a wind power supply agreement with local petrochemical company Braskem SA (BVMF:BRKM5)
The off-take contract is valued at BRL 2.1 billion (USD 411.67m/EUR 378.16m).
Under the 22-year power purchase agreement (PPA), Braskem will receive a portion of the power generated by the 202.5-MW Umari wind park and the expansion of the 1,038-MW Rio do Vento wind complex.
Currently under construction, Umari is scheduled to commence operations in 2024, while Rio do Vento’s is set for full commissioning this year. Both assets are located in Brazil’s northeastern state of Rio Grande do Norte.
The partnership is another step towards Braskem’s sustainability goals such as achieving carbon neutrality by 2050. In all, this is the sixth PPA for wind or solar the petrochemical company signed in four years in Brazil and the second with Casa dos Ventos.
(BRL 1.0 = USD 0.196/EUR 0.180)