The joint venture of the Canada Pension Plan Investment Board (CPPIB) and Brazil's Votorantim Energia is set to invest a total of BRL2 billion (US$440.87 million) for the construction of two wind farms with a total generating capacity of 411.6 MW.
The Ventos do Piauí II and Ventos do Piauí III wind projects, each with a capacity of 205.8 MW, will be developed in Curral Novo do Piauí and Araripina (Pernambuco), respectively. The facilities will have five wind farms each with a combined total number of wind turbines of 98.
The two companies will build the wind projects without the bank financing. The investment will be taken from the joint venture's own resources.
The construction of the proposed projects will start in 2021 with the expected completion by 2023.
