The loan, which has a 10-year term, will support construction of wind power capacity in the northeastern Brazilian states of Bahia, Pernambuco and Rio Grande do Norte.
IFC Brazil country manager Hector Gomez Ang said the investment helps accelerate development of Brazil’s renewable energy sector and also expand electricity supply at a critical time.
"Access to reliable power generation from diversified sources is a key component of Brazil’s long-term competitiveness and sustainable social and economic growth," Ang said.
Enel Green Power chief financial officer Giulio Carone said the agreement is the first between the company and a member of the World Bank Group.
"This investment is part of a comprehensive long-term investment plan to increase supply of wind power generation, seeking to support the sustainable growth of energy supply in Brazil," Carone added.
Enel Green Power owns and manages about 173MW of wind power plants and 93MW of hydro plants, with 331MW of projects in execution, in Brazil.
Image: Enel Green Power owns and manages about 173MW of wind power plants in Brazil. Photo: Courtesy of dan/ FreeDigitalPhotos.net.
