Italian renewable energy firm Enel Green Power has secured the right to sign 20-year contracts to supply 344MW of wind and solar power in Brazil.
The agreements for the Ituverava and Delfina projects, which are both in the state of Bahia, have been awarded through a public tender.
While the 254MW supply contract of solar photovoltaic power is for the Ituverava project, the other agreement is for 90MW Delfina wind power project.
Construction of the two projects involves an investment of $600m, out of which the solar project will cost around $400m. The remaining funds have been allocated for the wind project.
Both the plants, when operational, are expected to generate up to 900GWh of sustainable energy annually.
Enel Green Power had won public tenders for wind projects in the Brazilian state earlier as well, and manages power schemes with a gross capacity of 264MW.
Energy demands in Brazil have been on the rise, which has been forecasted to grow at an average annual rate of 4% through to 2020.
The South American country has an installed capacity of over 98,000MW renewable power, which accounts for almost 85% of the total installed capability.