Brazilian Development Bank approves funding for 319MW wind complex

31 January 2020 (Last Updated January 31st, 2020 09:40)

The Brazilian Development Bank (BNDES) has approved R$1bn ($235m) funding for the construction of six wind farms and an associated substation by EDP Renewables in the state of Rio Grande do Norte.

Brazilian Development Bank approves funding for 319MW wind complex
The wind farm project in Rio Grande do Norte, Brazil, will include the installation of 76 wind turbines. Credit: Zbynek Burival / Unsplash.

The Brazilian Development Bank (BNDES) has approved R$1bn ($235m) funding for the construction of six wind farms and an associated substation by EDP Renewables in the state of Rio Grande do Norte.

With a total installed capacity of 319.2MW, the project will include the installation of 76 wind turbines across six wind facilities. Following the completion, the project is expected to generate sufficient clean energy to power 800 homes in the region.

BNDES funding provided will cover approximately 70% of the total investment required for the project.

The wind farms will be built across three municipalities, including Jandaíra, Lajes and Pedro Avelino, with the construction works scheduled to begin in January next year.

During the construction phase, the project is expected to create approximately 700 direct and indirect employment opportunities in the region.

Following the completion, each wind facility will operate as a special purpose company (SPE) and will be managed by MV Holdings, a company controlled by EDP Renováveis Brasil (EDPR BR), which is part of EDP Renewables group.

In addition to reducing greenhouse gas emissions from the Brazilian electricity network, the new wind facilities are expected to increase the country’s power generating capacity with clean and renewable resources.

The project is expected to strengthen the supply chain in the wind turbine sector in the country.

In January 2017, Enel signed a R$373m ($115m) loan agreement with BNDES to cover a portion of the investment required to develop the 102MW Apiacas hydropower cluster in Brazil.

The cluster included 45MW Salto Apiacás, 30MW Cabeça de Boi and 27MW Fazenda power plants that are located in the state of Mato Grosso in Brazil’s Central-West Region.