BNDES approves $160m for five wind farms in north Brazil

The Brazilian Development Bank’s (BNDES) Board of Directors has approved about $160m in financing to implement five wind farms in the state of Bahia in northeast Brazil.

The units are part of the complex of 14 wind farms that won the Renova Energia S/A 2nd Reserve Energy Bid in 2009. Nine of them obtained BNDES financing in 2010.

The new plants, installed in the municipalities of Igaporàƒ£ and Guanambi, will have a total capacity of 98.8 MW. BNDES will finance 70 per cent of the total value of the project, which is $230m.

Including the five new parks in Bahia, the BNDES has already approved projects for 70 wind farms, totalling about $2.5bn and an installed capacity of 1.5 GW.

Financing will be provided to five specific purpose companies responsible for the operation of each of the parks. In all, the Renova Group is making investments that will lead to the installation of a total of 294.4 MW, with a start-up scheduled for July 2012.

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