EDP Secures BNDES Financing

Portuguese wind energy company EDP Renovaveis has secured a BRL228m ($146m) long-term debt facility from Brazilian development bank BNDES as it looks to finance its 70MW Tramandai wind farm in the State of Rio Grande do Sul. The project is the first wind farm to be installed by EDPR in Brazil and has a 20-year PPA with utility Eletrobras. In 2008, EDPR and Energias do Brasil purchased 100% of shares of Brazil’s Central Nacional da Energia Eolica (Cenareel). Although no financial information on the transaction was disclosed, EDP at the time valued Cenareel’s wind farms and projects at BRL51m.