KfW Group and Brazilian development bank BNDES sign EUR 250 million loan agreement to finance wind farms in Brazil

• KfW and BNDES sign an agreement worth EUR 250 million for a wind farm programme
• Construction of systems with an output of 330 MW — around 10% of Brazil’s wind power
• Avoidance of 5.6 million tonnes of CO2

FRANKFURT, 23-7-2014 — /EuropaWire/ — Dr Norbert Kloppenburg, Member of the Executive Board of KfW Group and Dr Luciano Couthino, President of the Brazilian development bank Banco Nacional de Desenvolvimento Econômico e Social (BNDES), have signed a loan agreement in Berlin worth EUR 250 million to finance wind farms in Brazil. Hans-Joachim Fuchtel, Parliamentary State Secretary of the commissioning Federal Ministry for Economic Cooperation and Development (BMZ), and Maria Luiza Viotti, the Brazilian ambassador in Berlin, also attended the ceremony.

“KfW is assisting Brazil with the further expansion of wind energy, which is still “new” to this country. Increasing energy requirements are a result of the economic upswing and the growing middle class. Together with our key partner BNDES we attach importance to the promotion of renewable energies and in this way are contributing towards global environmental and climate protection”, said Dr Norbert Kloppenburg.

The loan from KfW along with BNDES’ own funds and funds from the wind farm operators amount to a total of USD 680 million, which are now available to promote the wide-spread use of wind technology over the next three years and to increase the capacity by 330 MW. In doing so, a city with 3 million inhabitants, such as the capital city of Brasilia, can be supplied with clean electricity, and a total of 5.6 million tonnes of CO2 emissions can be saved over the planned operating period of 20 years.

The commitment is in line with the long-standing German-Brazilian cooperation for sustainable development that dates back more than 60 years. KfW is carrying out pioneering work around the world, promoting the use of renewable energies and in 2009, for example, was involved in one of Brazil’s first wind farms.

More information about KfW Development Bank can be obtained from our website www.kfw.de.

Contact

Sybille Bauernfeind
+49 69 74 31-20 38
+49 69 74 31-32 66
sybille.bauernfeind@kfw.de