Brazil Gets $335 Million German Development Bank Wind-Power Loan

Brazil’s development bank BNDES received a $335 million loan from Germany’s KfW to finance wind farms that will be developed by local companies.

The loan is the largest in Brazil to date from the German development bank, BNDES said today in e-mailed statement.

“The loan will help to meet the growing demand in Brazil for financing projects that are focused on energy generation from alternative sources,” said BNDES, formally Banco Nacional de Desenvolvimento Economico e Social.

BNDES and KfW previously collaborated on financing for hydroelectric projects in 2010, with the German bank providing a $68.4 million loan.

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