16 January 2017 2017 10:15 AM GMT

Enel Signs $115m USD Loan Agreement To Promote Renewable Investments In Brazil

The Enel Group and the Brazilian Development Bank (BNDES), the main financing agency for development in Brazil, have signed a 20-year term loan agreement worth around 373 million Brazilian reals (approximately $115m USD) to promote renewable investments. The funding will also cover part of the investment required to build the recently inaugurated 102 MW Apiacas hydropower cluster, which is located in the state of Mato Grosso in Brazil’s Central-West Region.

“We’re extremely pleased with the outcome of this transaction, which is a testament to the solidity of our Brazilian business,” said Francesco Venturini, Enel’s Head of Global Renewable Energies. “Just one month after Apiacas became fully operational, we have managed to obtain BNDES funding aimed at financing industrial projects and large-scale infrastructure in the country. While we strengthen our leading position in Brazil, we also continue to attract top local and international financing partners, who appreciate the commitment that we have made in a country that is so strategically important to Enel.”

In line with the loan agreement, the first instalment of 293 million Brazilian reals (approximately $90m USD) was disbursed after the signing, whereas the second instalment of 80 million Brazilian reais (approximately $25m USD) will be disbursed in early 2017, subject to the fulfilment of conditions precedent customary for this type of transaction.

The loan bears an interest rate based on TJLP (Taxa de Juros de Longo Prazo), the long-term interest rate reviewed quarterly by the Brazilian Central Bank. TJLP currently stands at 7.5%, below the current interbank rate in Brazil of 13.63%. TJLP is used as a base rate for loans granted by BNDES to private companies whose projects are deemed eligible for federal funding.

Apiacas has a total installed capacity of 102 MW and is composed of three power plants: Salto Apiacás (45 MW), Cabeça de Boi (30 MW) and Fazenda (27 MW). Apiacás is able to generate more than 490 GWh per year, enough to meet the annual energy consumption needs of more than 200,000 Brazilian households while avoiding the emission of about 280,000 tonnes of CO2 into the atmosphere. Apiacás has a 1.2 MW solar PV system installed on its premises, adding its own renewable power to that produced by the hydro plants.

Acting through the three special purpose vehicles (SPVs) that are held by Enel Green Power Brasil (EGPB) and own each plant of the Apiacas hydropower cluster: Enel Green Power Salto Apiacas S.A., Enel Green Power Cabeça de Boi S.A. and Enel Green Power Fazenda S.A.

Enel invested approximately 287 million US dollars in the construction of Apiacás, an investment financed through the Group’s own sources as well as the BNDES loan. The facility is supported by a 30-year power purchase agreement (PPA) for the sale of a fixed amount of power generated by the three hydro plants to a pool of distribution companies operating in Brazil’s regulated market.

The Enel Group, through its subsidiaries Enel Green Power Brasil (EGPB) and Enel Brasil, has a total installed capacity of 1,306 MW in the Brazilian renewable energy generation sector – of which 401 MW from wind power, 12 MW from solar PV and 893 MW from hydropower – as well as a further 442 MW of wind projects and 807 MW of solar projects currently at the implementation stage.

Photo: Courtesy of Enel S.p.A

October 16th 2017
Nordex Adds To Successes In Argentina, Winning 100 MW Pomona Wind Farm Order

The Nordex Group has added a further chapter to its success story in Argentina with an order for 26 N131/3900 turbines for the “Pomona” wind farm. The contract will be executed on a full EPC basis, including civil and electrical engineering, procurement, construction and manufacturing, delivery and installation of the wind turbines. Preparations for construction will be commencing in 2017, after which the wind power systems will be installed at the beginning of 2019. In addition, a ten-year full operation and maintenance contract has also been signed. 

October 17th 2017
Grids Integration, Energy Networks Boosted By Distributed Generation Growth

Renewable energy has continued to develop at ever increasing rates, with remarkable growth seen since the start of this decade. The pace of the energy transition is driving innovation and growth in related sectors. For energy networks and grids integrating small gas turbines, micro-turbines, fuel cells, biomass, small hydropower, wind and solar energy; distributed generation installation provides significant solutions in the restructured electricity regime. This is particularly so, where there is a larger uncertainty in demand and supply.

October 11th 2017
Engie Wins 832 MW Hydropower Plant Orders In Brazil, Strengthens Market Lead

During the auction held recently by the Brazilian Federal Government, ENGIE won concession contracts for two hydropower plants (HPP) for a total amount of around €950m (BRL3.531bn). The Jaguara HPP, located in Rio Grande (between the states of Minas Gerais and São Paulo), with a 424 MW installed capacity and the Miranda HPP, located in Rio Aragui, in Indianápolis (Minas Gerais State), with a 408 MW installed capacity. The concession contracts are signed for a 30-year period. They raise the installed capacity of ENGIE from 10,290 MW to 11,122 MW and reinforce ENGIE’s position as the largest private energy producer in Brazil.

October 10th 2017
Enel Starts Construction Of Australia’s Largest Solar PV Project

The Bungala Solar One facility is part of the Bungala Solar PV Project and will have an installed capacity of 137.7 MW out of a total of more than 275 MW for the whole project, that will be able to produce 570 GWh per year. The facility will cover an area of approximately 300 hectares and will consist of about 420,000 polycrystalline PV modules mounted on single-axis tracker structures which will follow the Sun’s path from east to west; increasing the amount of energy produced by the plant, compared to PV modules with fixed structures. The overall Bungala Solar PV project is expected to become fully operational in early 2019.


 

   

PS_Wind Energy_Masters_171