Brazil. Bons Ventos Geradora de Energia S.A.

Date of loan: 14 September 2010
Country: Brazil
Borrower: Bons Ventos Geradora de Energia S.A.
NACE sector/loan type: Electricity, gas, steam and hot water supply

Focus sectors

Project

The 13-year-maturity loan totalling the equivalent in Brazil reais of USD 50 million (EUR 38 million) has been provided for financing four wind parks with a total power generation capacity of 157.5 MW in Brazil. NIB's loan is co-financed with Brazilian development banks, BNDES and BNB. It is the first time for NIB to provide a loan in local currency in Brazil.

The borrower has installed 75 wind turbines, thereby establishing four wind parks located in the state of Ceará in north-eastern Brazil. Currently, the Aracati site, where 67 of the 75 wind turbines are located, is the largest wind farm in Brazil in terms of power generation. Each wind park holds a 20-year power purchase agreement with the Brazilian federal utility Eletrobrás.

Bons Ventos Geradora de Energia S.A. is a special-purpose company owned by the Brazilian private equity fund FIP Brasil Energia, the power company Grupo Servtec and the industrial concern Grupo Ligna.

Advanced technology from a number of companies in NIB's member countries was chosen to develop the project including OEM contracts.

Environmental summary

The nature landscape in the area where the new wind parks are located is characterised by large sand dunes, 40 to 90 metres high. The wind turbines have been constructed on the top of the ridge formed by these dunes. All project areas are protected by law and no construction is allowed due to their unique character and their value for tourism. However, the law allows exemptions in exceptional cases of public or social interest, under the condition that the environmental impact is insignificant. In the case of this project, the negative environmental impact is acceptable, as it will be offset by the expected positive environmental effect of the sustainable generation of electricity.

Although the landscape will be changed as a result of the project, the risk for permanent damage to flora and fauna is expected to be small. The changes introduced to the landscape will be reversible. The sand dunes are continuously shifting and must be stabilised, as access roads in the area are in danger of being destroyed by the moving sand.

During the construction, several pre-colonial archaeological findings have been revealed. According to Brazilian legislation, these must be excavated by professionals and the company must have procedures for how to conserve not only items that are found but also those items that remain underground. Bons Ventos has published their findings.

Bons Ventos has initiated several social projects. Affected villagers have been compensated for inconveniences related to the project (such as traffic and limited access to the project areas) through improvements of roads, housing, social infrastructure and the provision of educational programmes.

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