Eletrosul Allowed to Borrow $84 Million for Wind Power From KfW

Oct. 6 (Bloomberg) — Eletrosul Centrais Eletricas SA, a
Brazilian state-run power company, received authorization from
the Planning Ministry to borrow 66.8 million euros ($84 million)
from German bank KfW to expand a wind farm.

The resources will be invested in the expansion of its
Cerro Chato wind-power unit, Eletrosul said in an Oct. 3
statement. The Florianopolis-based company will add 48 megawatts
to the wind complex in the southern state of Rio Grande do Sul.

Brazil is seeking to diversify its energy sources and will
have more than 7 gigawatts in wind power generation capacity by
the end of 2014, enough for about 13 million homes, according to
Brazilian wind power association Abeeolica.

Eletrosul’s total investment in the expansion of Cerro
Chato is $118 million and after that, the wind park will have
installed capacity of 216 megawatts.

The financing is part of a 100 million-euro plan from the
German bank. The resources may be loaned to Eletrosul for wind
and solar energy generation, Karim ould Chih, KfW’s manager for
Latin America, said in the statement.

To contact the reporter on this story:
Vanessa Dezem in Sao Paulo at
vdezem@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Carlos Caminada, Robin Saponar

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us