US backs Brazilian wind farm
Brazilian firm Wind Power Energia has won a US$32.1mn US Exim-backed loan from Bank of America for the purchase of equipment for two Brazilian wind farms.
The loan will be used to purchase wind turbine blades from US-based manufacturer LM Wind Power Blades to complete a 180-megawatt wind farm in Bahia and another 211-megawatt farm in Ceara, Brazil.
The transaction is LM Wind Power Blades’ first with US Exim.
“We welcome the vision and assistance of US Exim, which has enabled us to develop a new and growing market opportunity for wind turbine blades in Brazil,” says Richard Pettifor, LM Wind Power’s commercial director for the Americas.
“As well as developing the Brazilian renewable energy market and overall production capacity, it will also support the prospect of long-term growth in LM Wind Power’s America business with approximately 250 permanent green-energy jobs in Arkansas and North Dakota,” he adds.
As of the end of the 2011 financial year, Brazil accounted for US$2.7bn of US Exim’s worldwide credit exposure. In the financial year of 2012 to date, the bank has authorised approximately US$415mn for renewable-energy exports of all types worldwide.