Brazil’s development bank okays USD 2.5bn in wind energy loans in 2014

In December BNDES approved BRL 1.7 billion in loans for 590.4 MW of wind power projects. These include 181.9 MW wind farm in Pernambuco state, 59.4 MW in Rio Grande do Norte and 144 MW in Rio Grande do Sul. Among the supported schemes are also seven wind farms of 205.1 MW in total in Piaui.

Brazil’s development bank (BNDES) has approved loans of a combined EUR 2.2bn for wind energy projects in 2014, or 83.3% more than in 2013, supporting some 2.585 MW of planned wind power capacity at home.

The bank said on Thursday it is one of the top five global investors in wind energy and renewables in general. It calculates it has extended BRL 20 billion in financing to 7,287.8 MW of wind energy projects since 2003.

Renewables have a share of some 80% of Brazil’s energy mix, mainly because the major power source in the country is hydroelectricity.