Enel Green Power, acting through its Brazilian subsidiary Enel Brasil Participações (Enel Brazil) â the controlling holding company of Brazilian subsidiaries of the Enel Green Power Group âsigned a 10-year term loan agreement for approximately USD 100M with Brazilian bank Itaú Unibanco (Itaú). The loan with Itaú, arranged by the International Finance Corporation (IFC), will cover part of the investment to construct over 260MW of wind power in the states of Bahia, Pernambuco and Rio Grande do Norte, located in the Northeast of Brazil.
The loan announced comes on top of the USD 200M Brazilian Real-linked loan closed in May 2014 on IFCâs own account, in support of Enel Green Powerâs wind power development projects in those States. âIt is testament to Enel Green Power’s solid business model and financial strength that we are able to attract top quality financing partners such as Itaú and IFC as we continue to build on our position in Brazilâ?, stated Giulio Carone, CFO of Enel Green Power. The 10-year term loan with Itaú contains the same terms of IFCâs USD 200M loan; it bears an interest rate in line with the market benchmark.
