The Brazilian Development Bank, or BNDES, has approved a BRL-1.62-billion (USD 318m/EUR 270m) loan to add 409.2 MW of capacity to two wind power complexes owned by VTRM Energia e Participacoes SA.
The financing will be given to special purpose entities (SPEs) owned by VTRM, supporting the implementation of ten wind parks in the Ventos do Piaui II and III wind complexes, BNDES said on Thursday.
The new plants will be located in the municipalities of Betania do Piaui, Curral Novo do Piaui and Paulistana in the state of Piaui, and Araripina and Ouricuri in Pernambuco.
With the addition of the new turbines, the wind complexes should be able to generate enough clean power to meet the demand of 800,000 local homes. Commercial operation is scheduled for 2022.
VTRM Energia is the Brazilian joint venture (JV) between Votorantim Energia and Canada Pension Plan Investment Board (CPPIB).
(BRL 1.0 = USD 0.197/EUR 0.166)
Choose your newsletter by Renewables Now. Join for free!
You have run out of free articles this month. Get more for free
Renewables account for 92% of Brazil's power produciton in 2022
Enel Green Power smashes record with 5.2 GW of new renewables in 2022
EDPR closes 260-MW wind portfolio sale to Brazilian Copel
Brazil okays Casa dos Ventos, TotalEnergies 12-GW renewables JV
SPIC Brasil secures funds for part of 105-MW wind complex
Brazil expects 10.3 GW of new capacity in 2023, mainly wind and solar
Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.