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China Development Bank provides $56 million loan for 34.5MW Barra dos Coqueiros Wind Farm Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Energen Energias Renováveis S.A. (Energen) |
| Country | Brazil |
| Start Date | Jan 01, 2012 |
| End Date | Nov 08, 2032 |
| Duration | 7,617 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 59826 |
Grant Description
China Development Bank provides $56 million loan for 34.5MW Barra dos Coqueiros Wind Farm Project In 2012, China Development Bank and Energen Energias Renováveis S.A. (Energen) -- a special purpose vehicle and joint venture of Desenvix Energias Renovaveis (95% ownership stake) and Água Quente Participações Ltda. (5% ownership stake) -- signed a $56 million loan agreement for the construction of the 34.5MW Barra dos Coqueiros wind farm in the state of Sergipe in Brazil.
It was collateralized against a statutory lien on the equity stakes of Desenvix Energias Renovaveis and Água Quente Participações Ltda. in Energen as well as a statutory lien on Energen's assets and equipment. The Barra dos Coqueiros wind farm consists of 23 wind turbines with an installed capacity of 1.5 MW each.
The Barra dos Coqueiros wind farm is located in the municipality of Barra dos Coqueiros on the coast of the state of Sergipe. The wind farm has been fully operational since January 2013.
Staff Comments
- Desenvix Energias Renovaveis was later purchased by Statkraft Energias Renováveis.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- CDB strives to be a responsible corporate citizen abroad
- BRAZILIAN WIND FACILITY BEGINS CHINESE BANK FINANCING OPERATION
- Barra dos Coqueiros Wind Power Plant
- COMUNICADO AO MERCADO
- 华锐风电亮相第七届外洽会 聚焦海外风电市场
- Desenvix Energias Renováveis S.A. Quarterly information (ITR) at March 31, 2013 and report on review of quarterly information
- Barra dos Coqueiros wind farm Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Energen Energias Renováveis S.A. (Energen)
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