Chinese groups are currently negotiating the purchase of 750 megawatts in wind power plants and 500 megawatts in solar projects in Brazil, said Wednesday in Sao Paulo, the president of the Brazil-China Chamber of Commerce and Industry.

Charles Tang, cited by the Brazilian press, said there are “many, many interested companies, given that Brazil is a country that provides a good return on invested capital.”

The president of the Brazil-China Chamber of Commerce and Industry said that potential business deals involved several “billions” and it is likely that some of them will be completed this year.

Without identifying the interested parties, Tang said they included at least six power generation companies, and investment funds that want to acquire minority stakes in existing projects, as well as manufacturers that plan to provide Chinese equipment for projects in Brazil.

China State Grid made the first investment in Brazil in 2010 through an acquisition for which it paid US$1 billion and since then it has acquired more assets and participated in a number of auctions for new projects, mainly power transmission.