EGP gets IFC $200m for Brazil wind

Italian renewables group Enel Green Power (EGP) has tied up a $200m loan from multilateral IFC to back construction of more than 300MW of wind power in Brazil.

The IFC finance will support construction of wind capacity in the northeastern Brazilian states of Bahia, Pernambuco and Rio Grande do Norte, said EGP.

The 10-year loan is the first between EGP and a member of the World Bank Group, added the developer.

IFC Brazil country manager Hector Gomez Ang said: “This investment helps accelerate development of Brazil's renewable energy sector while also expanding electricity supply at a critical time.

“Access to reliable power generation from diversified sources is a key component of Brazil’s long-term competitiveness and sustainable social and economic growth,” he added.