BNDES to maintain wind support
Brazil's National Development Bank (BNDES) has reaffirmed its commitment to financing new wind power projects registered for this year's auction.
BNDES's board approved financing conditions with little changes compared with 2013.
Aside from easing conditions for developers who wish to raise money raising debt locally (debentures), the bank lifted the minimum amount of direct finance it will provide to R$10m ($4.45m) per project. It also slightly increased its own remuneration to 1% from 0.9% a year.
All other conditions remained unchanged, including financing up to 80% of a project's cost, and giving developers 16 years to pay back the loan, including a grace period of six months after the start of operations.
The bank recently said that investments in wind power should reach R$43bn ($19.2bn) in the 2014-17 period, and that in the past 10 years it disbursed R$137bn in loans to the power sector, of which R$13.2bn financed 194 wind power projects with a combined capacity of 5.5GW.