São Paulo – This Wednesday (7th), the Brazilian Development Bank announced the approval of a line of credit worth 389 million reals (US$ 295 million) for the building of five wind farms in Northeast Brazil, being four in the state of Rio Grande do Norte and one in the state of Bahia.
According to the bank, the combined installed capacity of the farms will be 139 megawatts. The undertakings will be controlled by Neoenergia and Iberdrola Renováveis do Brasil. The line of financing represents 67.8% of total investment, which will be 573.6 million reals (US$ 435.3 million), and includes the power transmission network.
Still according to the bank, investment in wind energy in Brazil stood at 5.1 billion reals (US$ 3.8 billion) in 2011, of which 3.4 billion reals (US$ 2.5 billion) were financed by the institution. The figure translates into an additional 1,160 megawatts in the Brazilian power system.
*Translated by Gabriel Pomerancblum
