Brazil's Queiroz Galvao promises $1.48bn wind investment

Brazilian industrial conglomerate Queiroz Galvao is set to invest about $1.48bn in wind power projects up to 2016, Valor Economico reports.

The projects will be located in the northeast region of the country and will operated by the company's recently created renewable energy arm, Queiroz Galvao Energia Renovaveis (QGER), SeeNews Renewables reports.

The first wind park, located in the state of Ceara state, has a planned capacity of 122 MW and will be operational later this year.

Brazil’s wind generation capacity is expected to continue to grow, and installed capapcity is estimated to exceed 7000 MW in 2014, according to data from Abeeolica, a local wind power association.

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