2W Energia has signed a long-term financing agreement with the Brazilian bank Banco do Nordeste do Brasil SA (BNB) for a total of BRL275 million (US$52.7 million). This will finance the construction of a 76.5 MW portion of the Kairos wind complex in northeastern Brazil.
The loan is good for 24 years with interest and a principal grace period of 24 months and the annual cost is equal to the National Consumer Price Index (IPCA) plus 3.50%. The fund will be used for two wind farms with individual capacities of 40.5 MW and 36 MW. The initial payment is scheduled to be made in September of 2024.
The Kairos wind complex will consist of five individual wind farms with a total installed capacity of 261 MW that will be located near the city of Icapui, Ceara. The commercial operation of the wind complex is scheduled for 2023.
