- The two companies have signed a loan of €200m to contribute to Brazil’s clean energy development.
- The loan will allow Neoenergia to build a wind park in Chafariz and a solar power plant in Oitis.
The European Investment Bank (EIB) and Brazilian energy utility company Neoenergia has entered into an agreement to increase renewable energy projects in Brazil. According to a report from Devdicourse, both companies signed a EUR 200m loan to finance the renewable energy projects.
The EIB loan will allow Neoenergia to deploy a wind park in Chafariz and a solar power plant in Oitis, in the northeast region of Brazil. The agreement will also support a series of onshore wind farms, grouped into two clusters, located in the Brazilian states of Paraíba, Piauí, and Bahia, as well as a solar PV plant to be built in Paraíba approximately 10 km away from the wind cluster.
The project will have a power generation capacity of 715.5MW, comprising 566.5MW of wind power and 149MW of solar photovoltaic energy.