Brazilian state-owned development BNDES has granted a company controlled by Spanish construction group ACS and private equity firm Brookfield a loan to connect wind projects in the country’s south to the grid.
The borrower, Chimarrao Transmissora de Energia, will use the 1.76bn reais (€389m) loan to build power transmission lines in Brazil’s Rio Grande do Sul. This will allow for the transmission of 6.4GW of power, largely from wind farms.
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Special purpose vehicle Chimarrao won the right to build the transmission lines in an auction held in December last year. It will spend 2.24bn reais (€469m) developing the lines which will run 1,200 kilometres and cross 43 cities.