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Brazil

Brazil

Vestas invests EUR 32 million in Brazil operations

BRAZIL: Vestas will increase its manufacturing footprint in Brazil in a bid to meet the country's local content requirements.

Vestas is investing heavily in Brazil to meet local content requirements
Vestas is investing heavily in Brazil to meet local content requirements

Vestas will invest EUR 32 million in the country's manufacturing operations with the aim to produce more than 400MW a year.

The Danish manufacturer will focus 70% of its hub and nacelle manufacturing for its 2MW turbines at the plant in Fortaleza, north-east Brazil. Blade and tower manufacturing operations will also be locally sourced, the company said.

Vestas believes the move will create up to 300 jobs and help the company increase the potential to export components to other countries in Latin America.

Brazil's national development bank BNDES requires three major turbine components — out of blades, towers, hubs and nacelles — to be made in Brazil in order to qualify for state finance.

The access to BNDES' Finame financing is considered essential for turbine manufacturers to offer equipment at competitive prices. Brazil has one of the world's lowest wind power prices at around $60/MWh.

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