Portugal’s EDP Renováveis agrees construction of wind farm in Brazil with BNDES

26 July 2011

Lisboa, Portugal, 26 July – Portugal’s EDP Renováveis (EDPR) said Monday in Lisbon that it had established a project finance agreement with Brazilian state bank Banco Nacional de Desenvolvimento Económico e Social (BNDES) to build a wind farm in teh country.

According to a statement filed with Portuguese market regulator, CMVM, the wind farm in question is the Tramandaí farm, in the Brazilian state of Rio Grande do Sul, which will have a capacity of 70 megawatts (MW).

“The long term debt that has been contracted totals 228 million reals [103 million euros, at the current exchange rate], and the influx of this operation is expected to be registered in the third quarter of 2011,” the statement said.

EDPR said that the Tramandaí wind farm is the first to be designed and built in Brazil, a country which “has great potential for development of wind energy due to large wind resources.”

Production from the Tramandaí wind farm has been entirely contracted by Eletrobrás, via a power purchase agreement for 20 years. (macauhub)