The River Energy, a leading developer, owner and operator of renewable energy projects in Brazil, formed by the global private equity firm focused on Denham Capital Power, entered into a financing agreement with the National Bank for Economic and Social Development (BNDES) in Brazil, amounting to R $ 848 million (about US $ 270 million) for the construction of eight wind farms in the Sierra of Babylon complex.
Located in Morro municipalities hat and Várzea Nova, in the northeastern state of Bahia, it is expected that the project begins commercial operations in November 2018 and will consist of 95 wind turbines Wobben E-92, which together represent a total of 223 MW of installed capacity. It is estimated that the mountain of Babylon will generate about 1,400 direct and indirect jobs in the supply chain and during the construction and operation. The funding will also support the construction of access roads, a substation and a transmission line, as well as offer the possibility of issuing infrastructure bonds.
Marcos Meireles, CEO and co-founder of Energy Rio, noted: "We are delighted to work together with the BNDES in this important infrastructure project. The complex of Serra da Babylon will lead to operation of the Energy Rio to March of 500 MW, a result that strengthens the generation of Brazilian wind energy and creates social and economic development opportunities in the region. "
Scott Mackin, partner and co-chair of Denham Capital, added, "The River Energy is a testament of our strategy to support the best teams, able to deliver low-cost energy generation in high-growth economies. We are also delighted to have shared this co-investment opportunities with our existing limited partners, bringing the total co-investment commitments to more than $ 170 billion.
In addition to the 223 MW Serra da Babylon under construction currently, River Energy has two wind complex operating, Wind Caetité (54 MW) in Bahia and Wind Itarema (207 MW) in Ceará, as well as a portfolio of 2 GW of projects under preparation.
About Denham Capital
Denham Capital is a private equity firm energy and resources with over $ 8.5 billion in committed capital and invested in the energy, oil and gas, and mining. Denham has supported the successful development of various projects around the world, from the generation of wind and solar power in South Africa, Italy, Brazil, Uruguay and Australia, to thermal generation in the Philippines and Africa. Projects of Denham won awards Reuters Project Finance International Power Asia-Pacific Deal of the Year and Africa Deal of the Year, Euromoney Project Finance Magazine APAC Power Deal of the Year and European Solar Deal of the Year. For more information about Denham Capital, visit www.denhamcapital.com.
About Energy Rio
Formed by Denham Capital in 2012, the Energy Rio is committed to a sustainable future through the development, construction and operation of projects in renewable energy generation with the highest quality standards, creating social and economic value to local and stakeholder communities. For more information, visit www.rioenergyllc.com.
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