Brazil's Casa dos Ventos issues debentures for 360-MW wind complex

Brazilian wind developer Casa dos Ventos Energias Renovaveis has issued BRL 105.5 million (USD 20.6m/EUR 20.6m) worth of debentures to finance part of the 360-MW Babilonia Sul wind complex.

The debentures are tied to the Ventos de Sao Joao XXIII wind park and will mature in July 2042, Casa dos Ventos said on Friday.

Located in the region of Morro do Chapeu, Bahia state, Babilonia Sul will consist of 80 wind turbines in total. Commissioning is set to start in 2022 with the full operation to be reached in 2023.

Once up and running, the wind complex should be capable of generating enough power to meet the demand of 500,000 homes.

The electricity of Babilonia Sul will be sold through power purchase agreements (PPAs) with local manufacturer and recycler of rigid and flexible plastic Valgroup, petrochemical company Unigel and US-based agricultural processor Archer Daniels Midland Co (NYSE:ADM).

Banco Santander and Banco Alfa coordinated the offer, with the local unit of Spain's Banco Santander SA (BME:SAN) acting as the lead manager.

This is the second debenture issue for Casa dos Ventos this year. In May, the company issued BRL 430 million to finance a 238-MW expansion of the 1,038 MW Rio do Vento wind complex.

(BRL 1.0 = USD 0.196/EUR 0.196)

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