March 27 (Bloomberg) -- Iberdrola SA, Spain’s biggest utility, built three wind farms totaling 80 megawatts of capacity in Brazil with local partner Neoenergia SA.
Iberdrola installed turbines at the 20-megawatt Mel II project and the 30-megawatt Caetite II and Caetite III ventures, it said today in an e-mailed statement, without disclosing terms. Mel II is now operating, the company said. The farms all use 2-megawatt G90 turbines from Gamesa Corp. Tecnologica SA.
The wind projects are part of a 10-farm, 288-megawatt collaboration with Neoenergia that will provide enough power for about 450,000 people, according to Iberdrola. The Bilbao-based utility is expanding abroad after the debt-strapped Spanish government cut back subsidies for renewable energy.
The 10 wind farms are funded by 300 million euros ($383 million) of loans from the Bank of Brazil and the South American nation’s development bank, the Banco Nacional de Desarollo Economico & Social, or BNDES.
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