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Brazil

Brazil

Brazilian blade maker secures 120 million dollars in loans

Brazilian wind turbine blade manufacturer Tecnologia e Sistemas Avancados Ltda (Tecsis) has borrowed $120 million from the Inter-American Development Bank (IDB) to free up cash flow used for debt servicing and to allow it to expand internationally and add new product lines. Since 1995, Tecsis, based in Sorocaba, São Paulo, has primarily exported blades to North America, where it is GE Energy's primary supplier. It also provides blades for Clipper Windpower. The IDB says the financing is the first by the organisation for the manufacture of wind turbine components. The bank's Warren Weissman says Tecsis intends to expand its existing manufacturing plant and may build another factory near the major port of Santos in São Paulo. IDB wind specialist Juan Paredes says the bank is looking at other opportunities to financially support wind industry initiatives with private and public companies in Latin America, with the aim of helping ease component shortages in the wind industry. The IDB is in talks with wind project developers and governments in Chile, Peru and Mexico, he says. The bank provides financing, leverage, policy advice, research, and technical expertise in 26 Latin American countries and gives a priority to sustainable energy projects.

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