KfW lends Eletrosul €100m for RE

German development bank KfW Bankengruppe will lend Brazilian utility Eletrosul €100m ($137m) to help advance wind and PV generation projects.

The funds will come from the Programa Aberto initiative for co-operation in alternative energies between Brazil and Germany, a statement said.

Eletrosul is a unit of Brazilian state-controlled utility Eletrobras.

Eletrobras via its Eletrosul and Chefs subsidiaries is the leader in wind development in Brazil, with nearly 1.6GW of capacity contracted as of early December 2013.

In southern Brazil, Eletrosul has 782.5MW of wind energy in operation or being built, for which it has earmarked about R$3.5bn ($1.46bn) in investments.