- Press Releases
August 3 (Renewables Now) - Brazilian energy trader 2W Energia has signed new long-term financing agreements to fund the construction of a 76.5-MW portion of the Kairos wind complex in northeastern Brazil.
The BRL-275-million (USD 52.8m/EUR 51.7m) loan was granted by Brazilian bank Banco do Nordeste do Brasil SA (BVMF:BNBR3), also known as BNB, to the special purpose entities (SPEs) Kairos Wind 2 Energia SA and Kairos Wind 6 Energia SA, 2W Energia said on Monday.
The loan has a term of 24 years with a 24-month grace period for interest and principal, at a cost of the National Consumer Price Index (IPCA) plus 3.50% per annum. The first payment is set for September 2024.
To be located on an area of about 1,100 hectares near the city of Icapui, on the coast of Ceara state, the Kairos wind complex will feature five wind farms with a combined installed capacity of 261 MW.
The financing agreed with BNB will be used for two wind farms with a capacity of 36 MW and 40.5 MW.
The construction of the wind complex already began earlier this year with preliminary activities while the start of commercial operation is scheduled for 2023. All the power produced will be sold in the free market.
The latest agreement follows a BRL-147-million loan that 2W Energia signed with BNB in May of this year and brings the total financing to be provided by the bank for the Kairos complex to BRL 422 million.
(BRL 1.0 = USD 0.192/EUR 0.188)