(Repeating to state in second para currency is US dollars, not sterling.
Story originally transmitted Wednesday, July 30)
LONDON (Thomson Financial) - Econergy International has closed long-term
financing for its 25.6 MW Beberibe wind project in Brazil from the Banco
Nacional de Desenvolvimento Econco e Social (BNDES).
The $54.2 million loan represents 63.5 percent of the total project cost and
has a term of 14 years with payment beginning in January 2010, the renewable
power producer said in a statement.
Beberibe is expected to begin operations in the third quarter of 2008. A
20-year power purchase agreement with Eletrobr is already in place.
"This is Econergy's second fully financed project in Brazil and represents
yet another significant milestone in our progress," said Tom Stoner, Econergy
chief executive.
"The Beberibe project continues on track and is expected to be operational
during the third quarter of 2008. We have built up a strong relationship with
BNDES and other lenders in Brazil, and we are reviewing other potential projects
with them."
edward.mcallister@thomsonreuters.com
jdd/lam
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|