September 25 (Renewables Now) - Brazil's Superintendency for the Development of the Northeast (Sudene) has authorised a BRL-20.8-million (USD 4.2m/EUR 3.9m) loan package for two wind parks part of the 360 MW Babilonia Sul wind complex.
The Brazilian governmental agency said on Thursday the disbursement, which will come from Sudene's Northeast Development Fund, also known as FDNE, is the third installment of the total BRL 388.3 million financing.
Located in the northeastern state of Bahia, Babilonia Sul consists of 80 wind turbines in total and is owned by Brazilian developer Casa dos Ventos Energias Renovaveis.
Already 100% commissioned, the wind complex supplies clean energy to US-based agricultural processor Archer Daniels Midland Co (NYSE:ADM), local manufacturer and recycler of rigid and flexible plastic Valgroup, petrochemical company Unigel.
In addition to Babilonia Sul, Casa dos Ventos has the 151.2-MW Folha Larga Sul wind complex in Bahia. Sudene noted that the company plans to break ground on the 553-MW Babilonia Centro wind complex project this year, while commercial operation is set for 2025.
(BRL 1.0 = USD 0.204/EUR 0.192)