Home Business BNDES, BRICS bank give USD 67m for 6 wind farms in Brazil

BNDES, BRICS bank give USD 67m for 6 wind farms in Brazil

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The Brazilian Development Bank (BNDES) and the New Development Bank (NDB) said on Tuesday USD 67.3 million (EUR 54.4m) have been disbursed to support six wind projects in Brazil.

This is the first loan after last year’s signing of an agreement between NBD and BNDES for USD 300 million in financing to support wind, solar, hydro and bioenergy projects in Brazil. Currently, more than 60% of the country’s generation comes from hydropower and the partnership seeks to bring greater diversity of supply, BNDES noted.

The first disbursement will help finance parts of local firm Casa dos Ventos’ 358-MW Araripe 3 wind complex, comprised of 14 wind farms in total in the states of Piaui and Pernambuco.

Overall, the banks estimate that around 600 MW of renewables capacity would be added to the Brazilian mix thanks to their cooperation agreement.

NDB was created by Brazil, Russia, India, China and South Africa (BRICS) to support infrastructure projects and sustainable development in emerging economies.