Neoenergia finances wind farms in Brazil

Neoenergia finances wind farms in Brazil

Project & Infrastructure Finance Loans Debt Energy Renewable Wind Brazil Europe

Neoenergia, the Brazilian subsidiary of the Spanish power company Iberdrola, said it has received a loan for €250 million ($277 million) from the European Investment Bank (EIB) to finance construction of wind power projects in northeast Brazil.  Neoenergia will use 92% of the proceeds for the Otis wind farm complex in the states of Bahía and Piauí and the remaining 8% for the Chafariz project in Paraíba, the company said in a statement. The 15-year loan has a three-year grace period and must be

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