Sowitec continues regional push with new wind concession

Friday, June 15, 2012

One of German wind developer Sowitec's goals is to operate wind farms in Latin America with a total installed capacity of several 1,000MW.

To this end, the company has established units in Argentina, Brazil, Chile, Mexico, Peru and Uruguay, and earlier this year announced a deal with Banco Santander (NYSE: STD) to advance development of four wind farms in Mexico totaling 700MW.

The company now has secured a new wind power generation project in Peru.

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The South American country's energy and mines ministry has granted Sowitec a temporary concession for the 240MW Pampa Caracoles wind farm.

The company submitted the request this March and has 24 months to carry out feasibility studies, according to a ministry resolution published in the official gazette.

Work will target Marcona district in Nazca province in south-central region Ica. The ministry's general power department will cash in the project deposit if the company fails to carry out the studies within the timeframe.