EDP Renovaveis SA (EDPR) has executed a project finance structure agreement with the Brazilian Development Bank for the 70 MW Tramandai wind farm in Brazil. The project was fully commissioned in May.
The long-term contracted debt facility amounts to R$228 million, and the transaction's financial close is expected to occur in the third quarter of this year.
The project was the first wind farm built and installed by EDPR in Brazil. Production from the project is fully contracted under the PROINFA renewable energy incentive program through a 20-year power purchase agreement with Eletrobras – Centrais Eletricas Brasileiras SA.