December 11, 2019
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
Iberdrola's local subsidiary gets $277 mln from the EIB for the Otis and Chafariz projects in the northeast