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November 11, 2019

Ambev partners Casaforte Investimentos for $145m windfarm

Private equity firm Casaforte Investimentos has signed an agreement to build a windfarm that will power Ambev's beverage plants in northeastern Brazil.

Private equity firm Casaforte Investimentos has signed an agreement to build a windfarm that will power Ambev’s beverage plants in northeastern Brazil.

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The facility will also power the company’s five Budweiser breweries in Brazil.

Casaforte Investimentos will be responsible for the construction of the wind facility on a 1,600ha area in Bahia, Brazil.

As part of the agreement, Ambev will pay Casaforte Investimentos approximately R$600m ($145m) for 15 years.

Ambev sustainability and supply chain vice-president Rodrigo Figueiredo told Reuters that, “This power purchase agreement will cut 20,000 tonnes in carbon dioxide emissions per year, which is the equivalent of removing 35,000 cars from the streets per year.”

Casaforte Investimentos is said to have obtained all the licences for the wind facility. The construction works for the new windfarm is expected to begin next year.

The company anticipates that the wind facility would begin its commercial operations by the beginning of 2022 and will have the capacity to generate more than 80MW of clean energy.

The power generated by the proposed facility will meet 30% of Ambev’s breweries’ power needs in Brazil.

The deal is part of Anheuser-Busch InBev’s strategy to power its operations using renewable energy sources by 2025.

In June, Ambev signed a R$140m ($33.6m) agreement with four partners to construct 31 solar plants to power all its 94 distribution centres in the country.

Figueiredo added: “This time, we have chosen a windfarm because it is more viable for high voltage, but we are conducting studies for other regions and the technology will depend on the conditions.”

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Free Report
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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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