Brazilian wind projects to issue USD 382m in debentures this year - report

The Brazilian Development Bank (BNDES) estimates that local wind projects will issue about BRL 1.2 billion (USD 381.6m/EUR 344.9m) in infrastructure bonds this year.

These emissions will help reduce the need to use treasury funds for the purpose of financing projects, Reuters said Friday, citing Ligia Chagas, BNDES's head of department of alternative energies. The bank approved BRL 6.5 billion in financing for wind in 2014.

Chagas has added the bank should finance the first solar projects later this year or in early 2016.

BNDES announced in December 2014 a reduction in the bank's participation threshold to 70% from 80% in the amount that can be invested in renewable energy projects, including wind, biomass and small hydropower plants (HPP).

(BRL 1 = USD 0.318/EUR 0.288)

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