HomeWorld RegionsLatin AmericaEx-Im Bank in $32m loan to Brazilian wind farms

Ex-Im Bank in $32m loan to Brazilian wind farms

The Export-Import Bank of the United States has authorised a $32m loan guarantee to a Brazilian wind power company that plans to buy turbine blades from an American manufacturer.

Wind Power Energia of Sao Paulo is building a 211 MW wind farm in the Brazilian state of Ceara and a 180 MW wind farm in the state of Bahia.

It will use the bank loan to buy turbine blades for both projects from Arkansas-based LM Wind Power Blades.

Ex-Im Bank chairman Fred Hochberg said: “The bank’s loan guarantee will simultaneously support American jobs in a valuable industry and boost Brazil’s clean-energy prospects.”

Wind Power Energia, a subsidiary of Argentina’s Industrias Metalurgicas Pescarmona, designs and manufactures wind turbines for power projects in Brazil and South America.