Votorantim secures financing for 409MW onshore wind hub

Brazilian industrial conglomerate Votorantim has secured financing for ten wind farms in the northern state of Pernambuco under a deal with BNDES, the country’s state development bank.

The BRL1.62 billion ($318 million) deal covers the 409MW Ventos do Piauí II and III Ventos do Piauí II and III (409MW) OnshoreState of Piauí, Brazil, Central & South America Click to see full details wind complex, which is owned by VTRM Energia Participações, a joint venture between Votorantim Energia and Canadian pension fund CPP Investments.

The ten wind farms are expected to begin commercial operations next year, connecting to Brazil’s national grid through a transmission line to the Curral Novo do Piauí II substation.

The two complexes will expand Votorantim’s installed capacity in the north-east region by 72%.

“Together with the 206MW Ventos do Piauí I Ventos do Piauí I (206MW) OnshoreMarcolândia; Simões; Padre Marco, Piauí, Brazil, Central & South America Click to see full details and Ventos do Araripe III parks, already in operation, these projects will make up the largest wind generation cluster in Brazil, further contributing to the development of the local economy, through tax revenues, job creation and revenues in the municipalities where we are present”, said Votorantim Energia CFO Carlos Guerra.

Following the deal, BNDES has financed around BRL 3.0 billion worth of wind projects in north-east Brazil since the start of the pandemic last year.

The funds will be used largely to acquire wind turbines produced in Brazil, supporting the development of the wind energy supply chain in the country, BNDES said in a statement.

“Supporting the expansion of renewable energies in Brazil continues to be a BNDES strategy, allowing for greater development of the free market and enabling investors of sustainable assets to establish commercial partnerships with consumers committed to the environmental, social and governance (ESG) agenda”, said the head of BNDES Energy, Carla Primavera.