BNDES finances nine wind parks in Brazil

The Brazilian Development Bank, BNDES, has approved project financing for nine wind farms in Brazil with a combined capacity of 218.74 MW.

The bank will provide two loans of BRL 665.4 million (US$178.6 million) in total for the nine projects, including the Serra das Vacas Wind Complex in Pernambuco state, which is composed of four wind farms, and five wind farms located in Rio Grande do Norte state.

According to BNDES, the two loans will be also used to develop and upgrade the transmission systems needed for the wind projects.

Serra das Vacas Wind Complex, which will receive a BRL 269.4 million (US$72.3 million) loan, will have a total installed capacity of 90.745 MW. The wind complex is owned by local PEC Energia SA and state-owned utility Companhia Hidro Eletrica do Sao Francisco (Chesf). It is composed of 53 General Electric wind turbines, spread throughout four wind farms. 

European Gestamp Group, owner of the five wind farms located in Rio Grande do Norte state with a total installed capacity of 128 MW, will receive a BRL 396 million (US$106.3 million) loan.