Greenfield in Latin America

Brazil and Peru are other examples where greenfield projects are fully integrated in ContourGlobal development strategy.

Our first asset in Brazil in 2007 was the small-hydro power plant of Sao Domingos II located in the state of Goias. This project was particularly interesting because the basin of Sao Domingos river had a great potential to expand our hydro footprint, which was realized with the construction of our second asset in the country, the small hydro power plant  of Galheiros.

The know-how gained in the development of SHP Sao Domingos II was replicated many times over in Brazil, leading to a growth in installed capacity from 24.8MW in 2009 to 633 MW in early 2016, all based in early stage greenfield projects. We grew our technology footprint to Wind Farms, developing and constructing 597MW between 2010 and 2016 (Asa Branca, Chapada I, Chapada II and Chapada III), an average of 100MW a year.

Peru

We have also expanded our greenfield foot print to Peru, constructing the two first large scale wind farms in the country, Cupisnique and Talara. What other sponsors saw as a “risky” project, we saw it as a great opportunity. The project fundamentals were strong:

In six months, Contour Global negotiated a Sales & Purchase Agreement with the project developer, signed an EPC contract with the turbine supplier and developed a strong financing strategy with the Peruvian development bank (COFIDE). We successfully finalized construction as per schedule in mid-2014 and completed the financing strategy issuing the first project level green bonds in Latin America in 2014.