October 24 (Renewables Now) - The Brazilian Development Bank, or BNDES, has approved a loan of about BRL 1.26 billion (USD 312.4m/EUR 280.6m) to support a 360-MW phase of the Umburanas wind power complex, it said on Wednesday.
The financing will cover a total of 18 wind farms together with their respective transmission systems. The complex, located in the municipalities of Sento Se and Umburanas in Bahia state, is owned by Engie Brasil Energia SA (BVMF:EGIE3).
BNDES' loan covers 78.8% of the total project investment of BRL 1.6 billion. According to the local arm of French energy group Engie (EPA:ENGI), Umburanas has a total capacity of 605 MW and when fully operational will be its largest wind complex in the country.
Currently, Engie Brasil has 10.4 GW of installed capacity in Brazil, of which 90% comes from renewable sources, including wind, solar, biomass and hydropower.
(BRL 1 = USD 0.248/EUR 0.223)