Brazilian company BI Energia is planning to invest $4 billion to develop Latin America's first two offshore wind power projects - the 508 MW Caucaia plant and the 1.2 GW Camocim unit, both off the coast of Ceará, a state in northeastern Brazil.
"We have a total of six projects under studies, all of them located in Brazil's northeast region. Our analysis shows this is one of the best places in the world for this type of project. No other country in Latin America has such projects so far," the company's executive director Luciano Bombim told BN Americas.
Caucaia has advanced the most. Regulator Ibama is evaluating the unit regarding the environmental permit, which could be granted soon. In early July, BI Energia also started the environmental process for the Camocim unit.
Four other plants, with estimated capacity between 600 MW and 1 GW, are still in the initial studies phase.
The company is in talks with three trading firms interested in buying the electricity from the two units to sell in the free power market, while the energy ministry is analyzing options to include the source in Brazil's power tenders for the regulated market.
