BNDES to finance 70 MW wind energy project in Brazil

EDP Renováveis, S.A. ("EDPR") has executed a wind power project finance structure agreement with the Brazilian Development Bank ("BNDES") for its first wind farm designed, built and installed by the company in the country.

The Tramandaí wind farm, a 70 MW wind turbines project installed in the State of Rio Grande do Sul, was fully commissioned in May 2011.

The long-term contracted debt covers R$ 228 million (US$150 millions) and is expected to occur on the third quarter of 2011. Tramandaí’s production is fully contracted under the PROINFA renewable energy incentive program, through a 20-year PPA with Eletrobrás.