Brazil’s BNDES to continue financing up to 70% of wind projects
August 14 (SeeNews) – The Brazilian Development Bank, or BNDES, will continue to finance up to 70% of local wind projects’ total cost, Elbia Gannoum Silva, the executive president of the Brazilian Wind Energy Association (Abeeolica), said Tuesday.
The executive was assured about that in a conversation with the president of the bank, Luciano Coutinho, and Brazil’s president Dilma Rousseff, local media report.
The conversation took place following Tuesday’s launch of the Investment Program in Electric Power (PIEE). At the event the federal government indicated that it will contract between 4 GW and 6 GW of wind power capacity by 2018, an average of about 1.5 GW per year, news website Canal Energia reports.
Between 2005 and 2014, BNDES financed 291 wind farms with a combined capacity of 7,500 MW. According to government estimates, in 2023 wind farms are expected to account for 11.4% of the Brazilian energy mix, with 22,400 MW of installed power capacity.