Iberdrola Renovables is beginning the expansion of its Latin American business through a joint venture with Brazil's Neoenergia.
The two companies say that they want to exploit Iberdrola's experience as the largest wind power company in the world and Neoenergia's position as northeastern Brazil's largest power distributor to develop jointly wind power projects in Brazil.
They are aiming to bid together on tenders issued by Brazil's Agencia Nacional de Energía Eléctrica to develop and operate onshore and offshore wind projects. They could eventually form a 50-50 joint venture.
Iberdrola Renovables currently operates one 49 MW wind farm in Brazil, while Neoenergia - which is part-owned by the Iberdrola Group - serves 8.8 million customers in Brazil.
“Iberdrola regards Brazil as one of the key countries in its Latin American expansion,” said the Spanish firm in a statement. Iberdrola already owns wind farm assets in Mexico.
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