Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Brazil
Location: Pernambuco and Piaui
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower or Client: VENTOS DE SANTO ESTEVAO HOLDING, S.A.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
  • Infrastructure
Project Cost (USD): $ 553.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-12
Disclosure Date: 2016-12-23
Araripe III
IFC-38774

Project Description
The project involves the construction, operation, and maintenance of a wind power complex encompassing a total of 14 wind turbine clusters located in the Brazilian states of Pernambuco and Piaui, with an installed capacity of approximately 360 MW. The project includes 156 wind turbines (62 GE 107 and 94 GE 116 of 2.3 and 2.2 MW); a new main substation connected to a 34.5 km 230 kV power transmission line. The wind power complex was in an advanced status of construction during the appraisal visit in September 2016 and the commissioning of the first wind turbines is expected to start in December 2016 and will extend until June 2017 when the entire complex will be operational.
Investment Description
To date Casa dos Ventos group has developed over 4.3 GW in projects which were sold to various players/third parties for their construction/operation. Casa dos Ventos has also implemented on its own over 700 MW in wind farms which are fully operational, and has a strong pipeline of projects under development.In relation to the Araripe III Project, Casa Dos Ventos indirectly owns the shares of the 14 SPVs (the "Project Companies") that make up the Project through a holding company called Ventos de Estevao Holding S.A. (the "VSE"). CDV is regarded as a pioneer of the Brazilian wind power sector, acting initially as a development company, while more recently CDV also started to develop its own projects to own and operate (as is the case of Araripe III Project).
Contact Information
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/