In
2011,
it
approved
nearly
three
times
more
than
it
had
the
previous
year.
Despite
the
upheaval
as
BNDES
audits
wind
equipment
manufacturers
that
appear
to
have
failed
to
comply
with
its
60%
minimum
national-content
levels,
“the
sector
is
doing
very
well”,
according
to
Antonio
Tovar,
chief
of
the
bank’s
renewables
department.
BNDES
provides
the
main
stream
for
financing
wind
farms
in
Brazil,
offering
competitive
rates
for
projects
that
Tovar
says
have
high
capacity
factors
—
a
differential
that
he
says
justifies
low
tender
prices
of
about
R$100
($50.07)
per…
