BNDES audit leaves 2GW of Brazilian wind projects on hold

Up to 2GW of wind projects seeking financing from BNDES are on hold as the Brazilian development bank completes an audit of turbine manufacturers accused of failing to comply with local-content rules.

The 2GW represents nearly a third of the wind energy contracted since 2009, although most of the affected projects were contracted in 2010 and 2011.

Vestas, Suzlon, Fuhrländer and Acciona turbines have lost BNDES approval, which means projects using their machines are ineligible for financing from the bank, the primary source of wind-power loans in Brazil. The manufacturers are accused of building turbines without using a minimum of 60% local content.

The Brazilian wind-power association, ABEEólica, says developers are reporting that turbine prices are rising steeply, as authorised manufacturers…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login

Recharge App


Dowload the Recharge Mobile App
Get the free Recharge subscriber app on your device running iOS or Android.
Read Recharge anytime and anywhere.
Recharge IOS App