The National Bank for Economic and Social Development (BNDES) has approved a total of BRL1.065 billion (US$342 million) in financing for the construction of eight wind farms in the state of Bahia, and four wind farms, located in Ceara state.
The financing package consists of BRL847.9 million (US$273.7 million) for the project involving the 223.25-MW Serra da Babilonia Wind Complex in Bahia and BRL 217.5 million (US$70.9 million) for the 97.2-MW Santa Monica Wind Complex wind project in Ceara. The terms of the loans are 16 years.
Serra da Babilonia involves 95 wind turbines to be installed with a rated power level of 2.35 MW and rotors spanning 98 metres in diameter. The project will be connected to the National Interconnected System (SIN). This wind farms are expected to begin operations in November 2018.
The loan represents 57% of the total investment by the Rio Energy group, in the amount of BRL1.48 billion (US$336 million).
The Santa Monica project is comprised of four wind farms, with two already in commercial operations. The complex, comprised of 36 ECO 122, 2.7MW wind turbines provided by Alstom, is scheduled to start full operation in the first quarter of 2017.
The project to be developed by Engie Brasil Energia SA holds a total investment estimated at BRL360 (US$115 million).