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Spain

Spain

MTorres to launch Brazilian joint-venture

BRAZIL: MTorres Ólvega Industrial (MTOI), an Egyptian-owned wind turbine manufacturer based in Spain, has announced a 50-50 joint venture with Brazilian industrial giant WEG, to build a factory in Brazil.

The factory will be located in the Jaraguá do Sul district of Santa Catarina state. The partners expect to start up the factory by end-2011.

The joint venture claims its strengths lie in the synergies between the two companies. As well as producing power equipment, WEG, with 22000 employees across Latin America, Europe and Asia, also runs a large electricity distribution business.

MTorres, a Spanish family-owned group, built on the design and production of industrial automation systems, founded its wind turbine division in 1999. It has produced its own-design multimegawatt, direct drive models since 2004 from its Ólvega factory in Soria province.

By end-2010, MTorres accumulated less than 50MW of installed wind capacity in Spain.

In 2008, Egyptian group transformer and cable group Elsewedy Electric began its take over of MTorres Ólvega and now owns 90% of the company.

Earlier this month, Brazilian federal energy planning company EPE has revealed wind energy made up the largest proportion of the 23GW of projects registered for its A-3 tender.

EPE said 429 of the 568 projects put forward were wind farms. The auction is scheduled for July.

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