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Enel Green Power secures $100m loan for Brazilian wind power projects

CTBR Staff Writer Published 12 December 2014

Italian renewable energy firm Enel Green Power has secured a $100m loan from Itaú Unibanco to support the construction of more than 260MW of wind power projects in Brazil.

Wind turbine

The 10-year term loan will be used to construct projects in Bahia, Pernambuco and Rio Grande do Norte in the north-east of Brazil

The agreement follows the $200m loan Enel closed in May 2014 with World Bank Group member the International Finance Corporation (IFC) to support wind projects in the same states.

Enel Green Power chief financial officer Giulio Carone said: "It is testament to Enel Green Power's solid business model and financial strength that we are able to attract top quality financing partners such as Itaú and IFC as we continue to build on our position in Brazil.

"In this country we have reached nearly 300 MW of installed wind and hydro capacity, and have been recently awarded with over 450 MW from wind and solar in two auctions in a row, in addition to more than 300 MW of projects already in execution across all three technologies."

Enel Green Power has recently secured 344MW of wind and solar photovoltaic (PV) projects in Brazilian public tender.

The company secured the right to sign 20-year energy supply contracts for the 254MW Ituverava PV development and 90MW Delfina wind project.

Brazil has over 98,000MW of installed renewable capacity, corresponding to about 85% of the country's total installed capacity.

Image: Enel Green Power is building more than 260MW of wind power projects in Brazil. Photo: Courtesy of pakorn/FreeDigitalPhotos.net.