Brazil’s National Development Bank (BNDES) approved a R$847.9m ($274m) loan to Rio Energy – the Brazilian renewables arm of US investment fund Denham Capital – for the construction of the 223MW Serra da Babilônia wind complex.
Through Rio Energy, Denham Capital has been investing in Brazil’s wind power market since the start of the Brazilian wind boom in 2009. It has 484MW in wind projects with power-purchase agreements, including Serra da Babilônia, and a renewables development pipeline of 2.1GW
