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Spanish renewables company Iberdrola SA unit, Neoenergia SA, has secured a BRL715 million (US$133.30 million) loan for the development of the 566.5 MW Oitis Wind Complex in the states of Piaui and Bahia in Brazil.
The loan program will mature in 24 years with a grace period of three years. Neoenergia has also secured loans from the Brazilian Development Bank (BNDES) and the European Investment Bank (EIB) to fund the project.
The facility is expected to be fully operational by 2023.
