Wind energy in Brazil, BNDES approves loan of R$1.3 billion for Iberdrola wind farm

The amount will finance the construction of 12 wind farms in Paraíba with a total capacity of 370.8 megawatts.

The National Bank for Economic and Social Development (BNDES) approved a loan of R $ 1.3 billion to finance the construction of 12 wind farms of the Brazilian Wind Power, a company controlled by Neoenergia, owned by the Spanish group Iberdrola.

The wind turbines plants in Paraíba will have a total installed capacity of 370.8 megawatts when completed, which is expected by 2022, the bank said on Thursday.

The value of the operation represents 80% of the total estimated investment of 1.6 billion reais.