Brazil’s National Development Bank (BNDES) approved a R$1.3bn ($320m) long-term loan to Força Eólica, the local unit of Spanish utility Iberdrola, for the construction of a 370MW wind power complex that will be the developer's largest in the South American nation.
The complex is made up of 12 smaller wind farms that obtained power deals at a government tender held in 2017.
Total investment in the complex in Paraíba state is estimated at R$1.6bn, for what will be one of Iberdrola’s largest onshore wind projects globally and bring its installed capacity in Brazil close to 900MW.
According to BNDES, construction started in mid-2019 and the whole 370MW complex will be fully operational by 2022.
Spanish-German OEM Siemens Gamesa will supply 3.4MW turbines under one of its largest Brazilian orders to date, which was first announced in 2018.
The turbines with 65-metre blades will be produced at Siemens Gamesa's factory in Camaçari in Bahia state, which makes them eligible for financing from the BNDES. The SGR132 platform was one of the first turbines larger than 2MW whose local content level was approved by the bank.