Renova Energia SA
has obtained financing to build 14 wind farms in Brazil, with a combined capacity of 294 MW, according to a report by Energias Renovables.
The tendering for the wind facilities began in 2009 and they are expected to be operational in July 2012.
The construction of the wind farms will be financed by the National Development Bank and the Northeast Bank which are providing a total $544.5m. This represents around 77 per cent of the total investment, estimated at $704.2m, the report said.
The wind farms have already signed power purchase agreements with the Chamber of Electric Energy Commercialization (
) for a period of 20 years.