SIIF Énergies of Brazil was originally founded in 1991, and quickly built a competitive advantage that resulted in the award of 342 MW of PPAs with Eletrobras under the Incentive Program for Alternative Sources of Electric Power (“Proinfa”). In May 2007, Citi, Black River Asset Management and Liberty Mutual Insurance Company became minority shareholders, and in December 2007, they agreed to purchase most of the remaining shares and become controlling shareholders.
      SIIF Énergies has been integral in building the market for wind power in Brazil, which is now seen to be approaching maturity. SIIF Énergies by way of development of new suppliers, lenders, and offering international expertise. We are currently the leading developer of wind farms in Brazil, with more than 1161 MW of projects in various stages of operation, construction and development.
      In total, SIIF is responsible for four completed wind farms in Brazil, all in the state of Ceara. The first project was the Paracuru, which opened in November 2008. In January 2009, our Beberibe wind power plant named Foz do Rio Choró (“Choró”), began operations. The wind power plant Praia Formosa, located in Camocim, became operational in August 2009. The latest project of SIIF Énergies of Brazil, is the Icaraizinho, located in Amontada, which came into operation in October 2009. The power generated in the projects of the state reaches 207 MW.
      Another ongoing project of SIIF Énergies is Quintilha Machado, in Arraial do Cabo, located in the State of Rio de Janeiro, with power of 135 MW.
       The five wind farms in SIIF Énergies represents approximately 24% of the Proinfa program or approximately 345MW of installed capacity, at an estimated cost of 1.7 billion Reais, making SIIF Énergies the market leader in Brazil.