Brazilian development bank Banco Nacional de Desenvolvimento Economico e Social (BNDES) has approved around BRL26.3m ($11.7m) in loan to Dobreve Energia, a renewable energy firm in the country.

The loan will be used for the construction of two wind power projects, totaling 60MW, in the state of Rio Grande do Norte.

The estimated cost for the development of Eurus I and 3 wind farms is around BRL216.4m ($95.7m), reports Bloomberg.

Dobreve Energia noted that it has raised around 72% of the total amount required for the wind power projects.

These two wind power projects will use turbines that are manufactured by GE.