The Brazilian Development Bank, or BNDES, announced on Friday it will support the development of four wind farms with a combined capacity of 97.2 MW with a BRL-353.5-million (USD 109.3m/EUR 98.2m) loan.
The wind farms are part of the Santa Monica Wind Complex, located in the Trairi region, Ceara state. Local power utility Tractebel Energia (BVMF:TBLE3), subsidiary of French energy group Engie (EPA:ENGI), will overlook the development.
Named Cacimbas, Estrela, Santa Monica and Ouro Verde, the plants won contracts during an energy auction held in August 2015. Operation is schedule to commence in the second semester of this year, according to the BNDES press release.
The loan proceeds will cover the buy of wind turbines and other equipment, including for the transmission lines.
Up to date, BNDES has approved BRL 20.8 billion in financing for wind projects in Brazil's northeast region alone, supporting around 7,406 MW of the region's installed capacity.
(BRL 1 = USD 0.309/EUR 0.278)