Wind Farms in Uruguay are Leading Investments in Latin America
Uruguay bets on Wind Farms in Uruguay for Energy Production
The Ministry of Industry, Energy and Mining has approved several wind farm projects in order to increase the electricity generation for Uruguay.
Between April and June 2014 seven wind farms will begin to deliver energy supply to UTE, with an installed capacity of 340 megawatts (MW). Polesine (Florida, 50 MW), Gemsa (Lavalleja, 42 MW), Luz de Rio (Florida and Flores, 50 MW), Luz de Mar (Florida, 18 MW) and Luz de Loma Light (Florida, 20 MW) are some of the new ventures being completed this year.
By 2015, with the completion of projects currently underway, Uruguay will have 1,000 MW of installed wind power; this means that about 30% of electricity consumed in the country will come from wind power plants.
To develop renewable energy, the National Energy conducted a 6 year study and approved several measures, laws and investigations to determine which are the best regions to set up wind farms. An example of this was the development of the wind map for Uruguay, a useful tool that has helped to capture foreign investors for wind farms.
In June 2013, the Ministry of Economy and Finances ruled on the wind farm projects, fully exonerating them of charges, duties and consular fees as well as from the Single Customs Import Tax, in addition to other tax exemptions. The wind farm companies that approve the necessary authorizations will have full benefits in Uruguay.
A New Wind Farm in Maldonado
Last Wednesday, with the presence of the President of Uruguay, José Mujica, Maldonado opened the new wind farm. The complex of 50 MW, can supply electricity to approximately 50,000 people. The new wind farm of Spanish capitals SUR, has 25 Gamesa turbines which were installed in Sierra de los Caracoles in three different sectors.
Each sector has independent underground wiring that reaches the substation complex, where it connects with UTE lines to transfer the electricity.
Investment of the entire complex, including the post connection was approximately $100 million. The SUR firm is studying the possibility of expanding the complex to the north of Sierra de los Caracoles, although at this time the investment is not defined.
Five Uruguayan Projects are Ranked in Investments for Latin America
Large infrastructure projects attract investments for Latin America. In 2014, the value of this sector of the regional market is worth 98 billion dollars and is expected to grow to 118 billion in four years.
Mexico Forbes magazine published a CG / LA Infrastructure identifying 100 infrastructure projects in Latin America that can transform the region. In total, these enterprises have a value of 139 billion dollars and are distributed in 20 countries. At the same time these projects are divided into the logistics sectors, transport and energy.
The criteria CG / LA takes into account to the list are: competitiveness, productivity, job creation, rating of the country, business creation, environmental efficiency and carbon free projects.
Two of the five selected projects selected have to do with wind farms in Uruguay.
One of them, a project from Molino de Rosas is ranked in the 11th position on this list with a budget of $240 million.
Molino de Rosas is completing the final details of financing a new wind farm to be located in the Sierra de los Caracoles, in the department of Maldonado. The new company will develop the project with 15 Mitsubishi 80 meters high wind turbines that will produce 2 MW each with a total installed capacity of 30 megawatts.
The other one, the wind farm Ensol was placed at position number 18 in the Latin American ranking. This wind farm will be located in the region of Flores with a project worth $165 million.
The deepwater port in Rocha was ranked 21. The project of the Ministry of Transport and Public Works is valued at $500 million.
The rail link Chamberlain – Fray Bentos was ranked 56 in the list. The project of the National Development Corporation has a value of $100 million.
The last investment is the Uruguayan electricity transmission connection between Uruguay and Brazil, the Andean Development Corporation, with a value of $150 million.