Brazil: EDP subsidiary creates renewable energy company for South America

27 February 2008

Sao Paulo, Brazil, 27 Feb – Portuguese electricity group EDP’s Brazilian subsidiary Energias do Brasil has created a new company called Enernova, which will own the group’s South American renewable energy sector projects, the company’s chairman said in Sao Paulo Tuesday.

At a press conference, Antonio Pita de Abreu said that in Brazil there was great potential for production based on renewable sources and added that this was where Energias do Brasil would focus its growth efforts.

Enernova will have the target of 1,000 MW of electricity production based on small hydroelectric dams, sugar cane biomass factories and wind farms by 2012.

Pita de Abreu noted that Enernova would work in cooperation with the EDP – Energias de Portugal renewable energy unit (EDP Renováveis), a group that is already the world’s fourth largest producer of wind energy.

EDP Renováveis has production of some 3,600 MW in wind farms in Portugal, Spain, France, the United States and Poland.

The new business unit is 55 percent owned by EDP Renováveis and 45 percent owned by Energias do Brasil.

Enernova is the first business unit created by an electricity company in Brazil that is exclusively focused on renewable energy.

Energias do Brazil is a holding company that controls distribution companies, Bandeirante (Sao Paulo), Escelsa (Esprito Santo state) and Enersul (Mato Grosso do Sul), as well as generation companies, EDP Lajeado, Energesy and Enerpeixe, and sales company Enertrade. (macauhub)