Spanish renewables developer Corporacion Acciona Energias Renovables SA, doing business as Acciona Energia, has signed an agreement to acquire roughly 850 MW of wind projects in Brazil and thus enter the country's renewable energy market.

The energy company said on Monday that it has agreed to buy the Sento Se I and II wind projects from Brazilian developer Casa dos Ventos. Acciona estimates it will invest EUR 800 million (USD 903.3m) in the development of the two wind farms in Bahia state.

Sento Se I and II are currently going through the permitting process. Once approvals are received, the company can proceed to clear the investment and start construction work next year.

Acciona Energia said it is also exploring other wind and solar photovoltaic (PV) opportunities in Brazil. Worldwide, it plans to reach 20 GW of installed capacity by 2025.