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Renewable energy developer plans £2.3bn investment in Brazil

Date added: 5th August, 2011 at 10:41
(view all articles from August, 2011)

Categories: Natural Resources

Developer of wind and solar energy facilities Bioenergy intends to make a six billion reais (£2.3 billion) investment in Brazil.

This is according to the Wall Street Journal, which said the news was first published in Brasil Economico yesterday (August 4th) following an interview with president of the company Sergio Marques.

The firm is currently trying to secure funding for the investment through public and private banks to finance the building of 50 wind farm projects in the state of Maranhao.

At the moment, the company relies on credit from state lenders for around 70 per cent of its capital, while it recently sold 58 billion reais worth of bonds.

Bioenergy, which is based in Brazil, predicts the projects will have a capacity of 150 megawatts, it was reported.

The renewable energy field may be an important one in the Latin American country, as Siemens also recently announced it would be involved with the development of wind farms in the North East of the nation.

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