January 5 (Renewables Now) - The Brazilian Development Bank, or BNDES, closed 2017 with the record-breaking BRL 7 billion (USD 2.1bn/EUR 1.7bn) in wind project loans, doubling from 2016.
Wind loans accounted for more than half of the total amount allocated by the bank to the energy sector last year, an overall disbursement of BRL 13.4 billion, Reuters reported on Thursday.
Wind power was the highlight of 2017, receiving more loans than hydropower projects (HPPs). For the first time ever, during the December auction, Brazil contracted wind at lower prices than hydro power.
BNDES also made its first loan for solar generation in 2017 in the amount of BRL 529 million. The 150-MW photovoltaic (PV) plant belongs to EDF Energies Nouvelles (EDF EN), the renewables arm of EDF SA (EPA:EDF), and Canadian Solar Inc (NASDAQ:CSIQ).
(BRL 1 = USD 0.309/EUR 0.256)