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Vale will invest 650 million in wind Power Generation

Fri, Jun 29, 2012

Renewable Power, Wind Power

Vale will invest 650 million in wind Power Generation

Renewable energy is a hot topic now days. Pacific hydro is an Australian leading renewable-energy company, according to a survey organized by Qdos. Qdos is an unbiased independent company that does research on public views about social, political, industrial, environmental and development projects. They recently, announced the 2011 Community Polling Results. According to these results Australian communities strongly support (up to 90%) the wind farms.

Lately, an agreement between Pacific hydro and world’s second-largest mining company Vale has been signed. “This is a good partnership to be able to witness the signing of the memorandum, and I think it starts as an example of what we can achieve together through this business dialogue and through the linkages between our two great nations,” said Hon Julia Gillard, Prime Minister of Australia.

The two countries are acquaintance as they are in G20 group. And both are great producers of minerals, agricultures, which are in great demand all over the world.

Wind power is the emerging source of power generation in Brazil. In 2011, American’s freshly inaugurated energy was wind power. With a capacity of approximately 1.5 GW at the end of 2011 and another 7 GW in the pipeline by 2016, attracting about 18 billion USD in investment, projections for cumulative installed capacity in 2020 are for more than 15 GW.

Brazil’s Vale and Pacific hydro jointly built and operates two wind farms in Brazil’s northeast. According to agreement, each company will have 50% ownership of the projects, which are expected to be completed by late 2014. The projects will represent an investment of approximately R$650 M.

Vânia Somavilla, Executive Director of Human Resources, Health and Safety, Sustainability and Energy at Vale, said this is the company’s first venture into wind energy and represents an important step for increasing the use of clean and renewable sources in Vale’s energy matrix.

Vale will produce clean electricity for 20 years and will maximize the use of the plants.

Vale will invest 650 million reais ($315 million) in two wind farms that Pacific Hydro Pty are developing in Brazil to meet its growing energy needs. The projects are expected to start producing power in 2014 and will be Vale’s first wind farms, according to the statement.

It is a very good step towards the expansion of clean energy. Wind power generation is cheap and practically a natural source of energy.

Source: Vale and EV-Wind

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RPN's contributed to this report.

Professional freelancer in Green Technology and Scientific Development. Educational background in the field of Human Resources Management.

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