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Rio Energy secures $271M for 223MW wind farm complex in Bahia

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Rio Energy has secured financing agreements worth US$271 million (BRL848 million) from the National Bank for Economic and Social Development for the construction of 223MW of onshore wind farm capacity in the eastern state of Bahia.

The funding will support construction of eight wind farms in the Serra da Babilônia Complex, powered by 95 Enercon E-92 wind turbines. Operations are expected to commence in November 2018, Rio Energy said.

"The Serra da Babilônia complex will bring Rio Energy close to 500MW in operation, a result that strengthens Brazilian wind power generation and creates social and economic development opportunities for the region," Rio Energy CEO and co-founder Marcos Meireles said.

Rio Energy is backed by private equity firm Denham Capital. It already operates the 54MW Eólicas Caetité wind complex in Bahia and the 207MW Eólicas Itarema complex in northeastern Ceará.

Image: Impsa

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