Breaking News

Tweet TWEET

BNDES Approves $565 Million in Loans for Wind Farms in Brazil

Brazil’s development bank BNDES approved 1.27 billion reais ($565 million) in loans for wind farms in three states.

The projects in Bahia and Ceara, in the northeast, and in Rio Grande do Sul in the south, have a total capacity of 461.3 megawatts, the development bank said in a filling today.

The biggest loan is for the 386.1-megawatt Alto Sertao II project in Bahia, owned by Renova Energia SA (RNEW11), which received 1.04 billion reais in financing.

BNDES, formally Banco Nacional de Desenvolvimento Economico & Social, is investing 193.9 million-reais in three wind farms with a total capacity of 64-megawatts in Ceara, and 32.3 million reais for a 11.2-megawatt project in Rio Grande do Sul owned by the Brazilian biodiesel maker Grupo Oleoplan.

To contact the reporter on this story: Vanessa Dezem in Sao Paulo at vdezem@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Tina Davis

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.