Impsa to sell off 150MW of its Brazil wind portfolio

Energimp, the Brazilian development wing of Argentine company Impsa is planning to sell its first wind power assets to resolve a cash crisis.

The transaction includes five projects with total capacity of 150MW. It will be handed over to Casa dos Ventos, local developer which was approved by Brazil’s CADE.

Energimp plans to sell 100 percent control of its wind projects such as Morro do Chapéu, Vento Formoso, Paraizinho, Tianguá and Tianguá Norte, each of 30MW capacity to Ventos de São Jorge.

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The five projects, located in the state of Ceará have sold power at the alternative energy auction in 2010. Brazil’s power regulator Aneel has postponed the beginning of commercial operations to 2015, which should have been completed in 2014.

Impsa is going through a liquidity crisis due to the delay in payments for projects in Brazil and Venezuela, and a lack of orders in its home country of Argentina.

Recently, default in payment of obligations in Argentina has arisen and to avoid layoffs the company has started talks with local and national authorities.

Sabeena Wahid
editor@greentechlead.com