BNDES loan for Morro dos Ventos
Brazil’s development bank BNDES has approved a R$46m ($19.2m) bridge loan to the Brazilian renewables developer Desa to finance the 29.1MW Morro dos Ventos II wind farm.
The loan is due to be paid in January 2016, the same date expected for the wind plant to become operational. The project is located in the northeast state of Rio Grande do Norte.
The Morro dos Ventos II project is budgeted at R$128m and had its future energy production sold in the A-5 national tender held in 2011.
The wind farm will have 18 turbines supplied by US manufacturer GE.
“We believe this operation reveals the solidity of our enterprises,” says William Schmidt, who took the helm as Desa's CEO this month. He replaces the former president Carlos Augusto Leite Brandão.
Desa holds a wind portfolio in Brazil of 234MW, with 205MW of that ready to spin but with no link to the grid.