CHINA'S SPIC INVESTS $147 MILLION IN BRAZIL WIND FARMS AND LAUNCHES SOLAR PARKS

Chinese electricity company SPIC announced on Wednesday a 780 million reais ($147.41 million) investment in construction of two new wind farms in Northeastern Brazil, while making its debut in the country's solar sector, with two large parks beginning operations. The company is diversifying its portfolio and aiming to become one of Brazil's three largest energy generators, said Adriana Waltrick, CEO of SPIC's Brazilian unit.

SPIC's new wind farms, to be built in Rio Grande do Norte state, will have a combined installed capacity of 105.4 megawatts (MW) to be sold on the free energy market. Construction work is expected to begin by January 2025 and operations should start the following year. New solar parks were inaugurated this week in Piaui and Ceara states, totaling 738 megawatts-peak (MWp) of power.

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