Brazil’s BNDES Approves $252 Million of Wind Farm Loans

Brazil’s development bank BNDES approved 557 million reais ($251 million) in loans for wind projects in two states.

The wind farms in the northeastern state of Ceara and the southern state of Rio Grande do Sul have a total capacity of 195.6 megawatts, the development bank said in a filing today.

BNDES has been increasing financing for wind projects in Brazil. Last year, the bank approved loans totaling 4.3 billion-reais, 27 percent higher than in 2012.

The biggest loan announced today is for the 120-megawatt project Atlantica I, II, III and IV in Rio Grande do Sul, owned by CPFL Energias Renovaveis SA, which received 383.7 reais in financing.

BNDES is also investing 173.3 million reais in three wind farms with a total capacity of 76 megawatts in Ceara, owned by Eol Brisa Energias Renovaveis SA.

The development bank didn’t immediately comment to a e-mailed request about the loans.

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

To contact the editors responsible for this story: James Attwood at jattwood3@bloomberg.net Robin Saponar, Carlos Caminada

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