Brazil's BNDES loans $251m for wind

Brazil's national development bank (BNDES) has advanced R$557 ($251.4m) in loans for wind projects in the country.

BNDES approved a R$173.3m loan to renewable energy company Queiroz Galvão Energias Renováveis (QGER) for the Amontada complex in the state of Ceará.

Amontada is made up of the Palmas, Ribeirão and Ilha Grande wind plants with a combined capacity of 76MW.

French industrial group Alstom supplied the 28 turbines for the complex.

Total investment in the wind farm is estimated at R$308.5m.

Amontada should start commercial operations before the end of the year.

In the second loan, the bank approved R$383.7m ($173m) to renewables energy company CPFL Renováveis for the development 120MW Atlântica complex in the state of Rio Grande do Sul.

The complex is made up of the Atlântica I, II, IV and V wind farms with 30MW. They started commercial operations in March 2014. BNDES said total investment in the complex was R$488m.

Spanish turbine maker Acciona supplied 40, 3MW turbines for the complex.

CPFL Renováveis will use the BNDES long-term loan to pay back bridge loans of about R$65m for each plant it had arranged for the construction of the complex.

Atlântica sold power in Brazil's 2010 auction.

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