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Brazil : ENEL GREEN POWER inks $200m loan agreement with IFC

May 16, 2014



Enel Green Power has announced signing of a loan agreement worth a $200m with World Bank Group member the International Finance Corporation.

The loan aims at supporting the construction of nearly 300MW of wind projects in Brazil.

Through Brazilian subsidiary Enel Brasil Participacoes Ltda, the firm secured the package having a 10-year term.

Location of the projects will be in the states of Bahia, Pernambuco and Rio Grande do Norte in the north-east of the nation.

EGP chief financial officer Giulio Carone, said, We are pleased to sign this agreement with IFC, the first one between Enel Green Power and a member of the World Bank Group.

Carone adds, This investment is part of a comprehensive long-term plan to increase supply of wind power generation, seeking to support the sustainable growth of energy supply in Brazil.

IFC country manager for Brazil Hector Gomez Ang said, This investment helps accelerate development of Brazil s renewable energy sector while also expanding electricity supply at a critical time.


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Source: TendersInfo (India)


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