Wind energy in Brazil, Engie obtains R $ 2.7 billion from BNDES for wind farm

Engie Brasil Energia signed contracts with the National Bank for Economic and Social Development (BNDES) for financing totaling R $ 2.7 billion for a wind power project and for the construction of transmission lines.

The company of the French group Engie obtained 1.24 billion reais with an amortization term of 220 months for the Campo Largo-Phase 2 wind complex, which is being implemented in Bahia and had future production negotiated with customers in the free electricity market.

The Gralha Azul transmission project, which involves the construction of lines in Paraná with approximately one thousand kilometers in length, will receive a loan of 1.481 billion, with an amortization term of 246 months.

The wind farm is expected to be fully operational in 2021, while the transmission work is due to be completed in March 2023, but Engie expects to shorten the implementation of the lines by at least 12 months, the company said in the statement.

The funds obtained from the BNDES represent 80% of the estimated investment for both wind power projects.