Brazilian firm Wind Power Energia (WPE) has confirmed it has received the second and final part of a $150m loan from the Inter-American Development Bank (IDB).

The final installment of the loan totalled $50m.

The IDB loan is for the development of wind power projects

WPE is a subsidiary of Argentine engineering company Industrias Metalurgicas Pescarmona (Impsa), which will use the funds to continue developing wind farms in the Latin Americn region.

The loan is for eight years, with a three-year grace period.

Impsa is developing wind power projects of over 1100 MW in Brazil, Uruguay and Argentina, and has 322 MW in operation in Brazil’s Ceara and Santa Catarina states.

For more Wind Power projects.

For more Latin America news.