Brazilian developer secures financing for wind project development

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Brazilian developer secures financing for wind project development

Atlantic Energias Renováveis ​​SA has signed a financing agreement with Banco Regional de Desenvolvimento do Extremo Sul (BRDE), in the amount of BRL230 million (US$73 million), for a total investment of BRL1.2 billion (US$380 million) for the implementation of the Santa Vitória do Palmar Wind Complex in the extreme south of Rio Grande do Sul.

The 12 wind farms that make up the complex will have installed 69 wind turbines totalling 207 MW, which can covers energy need of around 400,000 homes or 1.2 million inhabitants. 32 out of the 69 turbines comprising 96 MW were already in commercial operations at the end of March. Construction works are expected to be completed by the end of 2017.

The signing ceremony took place in the Negrinho Pastorium Hall of the Piratini Palace, in Porto Alegre, with the presence of the governor, José Ivo Sartori; the state secretary of Economic Development, Science and Technology, Fábio Branco; the BRDE president, Odacir Klein; The Superintendent of the BNDES Energy area, Carla Primavera, representing the Bank's presidency; And the CEO of Atlantic, José Roberto de Moraes.

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