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, 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.