Spanish energy giant Iberdrola said Tuesday that Brazil's National Electric Energy Agency, or Aneel, has authorized a joint venture it formed with Brazilian partner Neoenergia to build three wind farms with 90 MW of total generating capacity in the South American country.

The project has a total cost of 150 million euros (about $186 million).

The Canoas, Lagoa I and Lagoa II wind farms, which each have 30 MW of generating capacity, are in Paraiba, a state in northeastern Brazil, Iberdrola said.

The contract for the project was awarded under an energy program created by the Brazilian government.

Iberdrola will now manage 17 wind farms with total generating capacity of 511 MW in Brazil.

The Spanish power company has operated in Brazil since 1997 via its 39 percent stake in Neoenergia, in which Banco do Brasil has a 12 percent interest and Previ has a 49 percent stake, and is in the electricity distribution business through utilities Coelba, Celpe and Cosern. EFE