Banco Nacional de Desenvolvimento Economico e Social (BNDES) of Brazil has certified that Vestas complies with the FINAME II code, the set of local manufacturing requirements established by the bank for foreign manufacturers operating in the country.
Based on the local manufacturing plan agreed upon with BNDES in June 2014, Vestas will localize the production of its V110-2.0 MW wind turbine models as follows: Aeris will produce blades, ABB will manufacture generators, and Vestas' new factory in Aquiraz (near Fortaleza in Ceara) will localize 70% of hub and nacelle manufacturing.
Compliance with these rules is a prerequisite set by BNDES in order for companies to have access to the bank's special credit lines, says Vestas.
"Our V110-2.0 MW platform turbines are very well suited for Brazilian wind conditions, and the FINAME II accreditation will allow Vestas' customers to leverage BNDES' attractive financing," explains Marco Graziano, president of Vestas Mediterranean.
Vestas says it has been present in Brazil since 2000 and has delivered a total installed capacity of 713 MW; it has also announced firm and unconditional orders of approximately 1 GW. Given the planned increase in manufacturing output, Vestas expects to create hundreds of direct and indirect jobs in Brazil.