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In the north-eastern Brazilian state of Pernambuco, European Energy will build three new wind farms with a total capacity of 94MW. The company has secured a USD 21 million loan from Denmark’s Green Future Fund managed by IFU.
The project was developed by Brazilian developer Eólica Tecnoligia and Nordic Power Partners, a development company owned jointly by European Energy and the Danish Climate Investment Fund, which is managed by IFU and partly financed by Danish pension funds.
The loan represents close to 20% of the total construction costs. Vestas will supply 21 V150-4.5 wind turbines and has entered into a 20-year service agreement.
European Energy is responsible for implementing the project, which consists of three individual farms, Ouro Branco I & II and Quatro Ventos. The wind farms are expected to become operational end of 2022.
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