October 23 (Renewables Now) - The Brazilian Northeast Bank (Banco do Nordeste) said Friday it will extend loans of nearly BRL 1.33 billion (USD 413m/EUR 351m) to support the construction of green power projects with a combined capacity of 530.3 MW.
The amount will go to support solar projects of Italy’s Enel SpA (BIT:ENEL) and Apodi Solar, a joint venture between Norway’s Statoil ASA (NYSE:STO) and Scatec Solar ASA in partnership with Brazil's Kroma Energia. It will also help finance two wind farm projects of local utility CPFL Energias Renovaveis SA (BVMF:CPRE3).
More details on the projects being financed are available in the table below.
|Enel projects||Solar||350 MW||BRL 678.7m|
|Apodi project||132 MW||BRL 477.4m|
|CPFL projects||Wind||48.3 MW||BRL 170.1m|
These renewable energy projects will be financed through FNE Infraestrutura, a credit line with funds from the Constitutional Financing Fund of the Northeast (FNE). The signing of the contracts with the companies will take place on Tuesday.
(BRL 1 = USD 0.313/EUR 0.266)