Iberdrola, Neoenergia sign loans for wind farms in Brazil

Iberdrola and Brazilian consortium Neoenergia will sign 10 loans for €300 million ($381.3 million) with Banco Nacional do Desenvolvimento Economico y Social (BNDES) and with Banco do Brasil to build wind farms in Brazil.

The funds will finance 10 wind farms with a total capacity of 288 MW. The facilities are Calango 1, 2, 3, 4 and 5, Caetité 1, 2 and 3; Arizona 1; and Mel 2.

The companies have already started construction on Caetite 1, 2 and 3 and Mel 2 and expect to begin work on the other six over the coming months. Gamesa will provide all of the turbines for the projects.

Iberdrola currently has one wind farm in Brazil, the 49 MW capacity Río do Fogo facility in the state of Río Grande do Norte.

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