Brazil CPFL Renovaveis to get USD 46.3m financing from BNDES
Dec 10, 2012 - Brazilian green energy company CPFL Energias Renovaveis announced on Friday that its executive board authorised the contracting of a BRL 96 million (USD 46.3m/EUR 35.8m) loan from Brazil's National Bank for Economic and Social Development (BNDES).
The resources, to be disbursed by local bank Itau, are earmarked for the construction of the Campo dos Ventos II wind park, whose installed capacity is planned at 30 MW.
The venture is currently being built in northeastern Rio Grande do Norte state and is scheduled to be launched in the third quarter of 2013.
The board also approved an alteration in the bridge loans secured for the wind farms Campo dos Ventos II and Macacos I, the latter with envisaged 20.7 MW capacity, to support the installation of the farms until BNDES extends the funds. The cleared bridge loans will sum up BRL 261 million, CPFL Renovaveis said.