China Guodian Corp. plans to invest in wind power in Brazil

20 September 2011

Sao Paulo, Brazil, 20 Sept – Chinese state company China Guodian Corporation plans to invest US$100 million in the construction of a wind turbine factory in Brazil, the director the company’s foreign business department, Peng Jinzhu said in Sao Paulo.

Speaking to Brazilian newspaper Folha de São Paulo, during the Latin America-China Investors Forum, Peng said that if the project went ahead it would be the first factory outside China and would serve as a base to meet demand from North, Central and South America.

“Brazil is quite a competitive market and it is important to have a local presence,” said Peng Jinzhu, noting that the states of Ceará and Rio Grande do Sul were possible locations for setting up the factory. He added that Guodian was also seeking a partner in Brazil.

Brazil is seen as one of the most promising markets in the world for wind power and projects over the next few years represent investment of 25 billion reals, according to the Brazilian Association for Wind Power (Abeeólica).

Guodian is the third large wind power production company in China and the tenth largest in the world. It employs around 4,000 people and is responsible for the development, investment, construction and management of wind farms in China and Myanmar. (macauhub)