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Portugal's Martifer Renewables enters South America
1 November 2008
Portugal's Martifer Renewables recently paid EUR 6.92 million for a 55% stake in Brazil's north-eastern electricity utility Ventania, which owns a portfolio of wind projects and has ten years of experience in the wind power business. Through the deal, Martifer become part owner of Ventania's two wind power projects located 200 kilometres south of Ceará state capital Fortaleza. The 10.5 MW Canoa Quebrada and 4.2 MW Lagoa do Mato wind farms are under construction using Suzlon 2.1 MW turbines and are expected online this month. Both developments will operate under a 20-year power contract with Brazilian power company Eletrobrás under the national wind power support program. Martifer's João Camões describes Brazil as the company's door to the South American market. "The culture and language are important aspects that make business easier." Martifer, which makes towers for wind turbines in Portugal and is building a tower factory in the US, is also studying options to build equipment in Brazil. "Whenever the market conditions justify it, this is always a possibility," Camões says.
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