Acciona Gets Brazil Approval to Supply Turbines With State Loans

Acciona SA, the Spanish renewable-energy company, may sell sell wind turbines in Brazil financed with state-backed loans after it met local-content requirements.

The company was approved yesterday, a press official for BNDES, the Rio de Janeiro-based government bank that provides the debt, said in an e-mail today. The official didn’t want to be identified because of agency policy.

BNDES requires that turbine makers get a significant portion of their components from local suppliers to boost investment in the domestic supply chain, Helena Chung, a Sao Paulo-based analyst for Bloomberg New Energy Finance, said today in a telephone interview.

“If you want to sell turbines in Brazil you need to be approved by BNDES,” Chung said. Wind-farm developers qualify for the development bank’s loans if they’re buying turbines from approved suppliers. The decision “effectively grants Acciona access to the Brazil market.”

Banco Nacional de Desenvolvimento Economico e Social, as the state lender is officially known, has also approved Argentina’s Industrias Metalurgicas Pescarmona SA, France’s Alstom SA, Spain’s Gamesa Corp. Tecnologica SA, the U.S.’s General Electric Co. and Wobben Windpower, the local unit of Germany’s Enercon GmbH, the official said.

Acciona will build a factory to assemble nacelles, the car-sized units that house the gears, electronics and gearboxes for turbines, in the northeastern state of Bahia, the Alcobendas, Spain-based company said in a Sept. 3 statement. The facility will begin production in the fourth quarter of 2014.