Engie secures loan for 360MW Brazilian complex

Brazil's national development bank (BNDES) has approved BRL 1.26 billion ($370 million) in financing for Engie's 360MW Umburanas wind power complex -- the bank's first large-scale loan for the technology under climate change-denying president Jair Bolsonaro.

Engie's Trairi wind farm in Ceara, Brazil

The funding will cover 78.8% of the total investment in the cluster, which will consist of 18 individual wind farms in the northern state of Bahia, plus transmission lines, the bank stated.

Umburanas will consist of 144 GE 2.5-116 turbines.

Engie acquired the complex as part of a 608MW portfolio  bought from local developer Renova Energia in August 2017.

The loan is BNDES’ first large-scale investment in wind power since president Jair Bolsonaro was sworn in on 1 January 2019.

Since then two energy auctions have taken place — with wind power developers successful in each tender — and plans have been announced for four further rounds by the end of 2021.

In the first 2019 tender, three wind farms with a combined capacity of 95.2MW and average price of BRL 79.98/MWh were successful. 

And in the most recent, 44 wind farms with a combined capacity of 1,040MW and average price of BRL 98.89/MWh were awarded contracts.