The International Finance Corporation (IFC) says that a $200 million loan deal with Enel Green Power will help to accelerate the expansion of Brazil’s renewable energy sector.

The ten-year loan will help Enel Green power to finance the construction of 300 MW of wind power capacity in the northeastern Brazilian states of Bahia, Pernambuco and Rio Grande do Norte.

The loan agreement is the first between Enel Green Power and a member of the World Bank Group, according to the Italian company. "This investment is part of a comprehensive long-term investment plan to increase supply of wind power generation, seeking to support the sustainable growth of energy supply in Brazil," Said Enel Green Power Chief Financial Officer Giulio Carone.

Enel Green Power owns and manages about 173 MW of wind power plants and 93 MW of hydro plants in Brazil, and has a further 331 MW of projects in development.

Sian Crampsie