BNDES lends $99.6m for new wind

Brazil's National Development Bank (BNDES) approved R$226.2m ($99.6m) in loans for construction of four wind power projects with total nameplate generation capacity of 75.2MW in the states of Ceara and Rio Grande do Sul.

BNDES says that R$193.9m will be made available to Santander bank to develop three of the projects with 64MW installed capacity that the bank is controls in Cear√° in a partnership with Spanish group Abengoa.

The projects should have been ready in early 2014, but are delayed.

In southern Rio Grande do Sul, BNDES approved a R$32.3m loan to the Brazilian engineering group, Oleoplan, to build the 11.2MW, Pontal 2 wind project. It will enter commercial operation in early 2015.

Alstom will supply the turbines for Oleoplan's project.

BNDES offers 16-year loans for up to 80% of total investment in renewable energy projects.