São Paulo, May 15th, 2014
– IFC, a member of the World Bank Group, is providing $200 million
to Enel Green Power SpA, a world leader in renewable energy, to support
construction of over 300 MW of wind power energy capacity in the
states of Bahia, Pernambuco and Rio Grande do Norte, in the Northeast
of Brazil. IFC’s 10 year financing will contribute to meet growing
power demand in Brazil through renewable energy solutions. It will also
support the development of the Northeast region, contributing to job creation.
“We are pleased to sign this agreement
with IFC, the first one between Enel Green Power and a member of the World
Bank Group”, notes Giulio Carone, Chief Financial Officer of Enel Green
Power. “This financing is part of a comprehensive long-term investment
plan to increase supply of wind power generation, seeking to support the
sustainable growth of energy supply in Brazil”.
“IFC is excited to partner with
Enel Green Power, a leading company in the global renewable energy industry,
to support expansion of their investments in wind power in Brazil”, says
Hector Gomez Ang, IFC Brazil Country Manager. “This investment helps accelerate
development of Brazil's renewable energy sector while also expanding electricity
supply at a critical time. Access to reliable power generation from diversified
sources is a key component of Brazil’s long-term competitiveness and sustainable
social and economic growth”.
In Brazil, Enel Green Power owns and
manages 173 MW of wind capacity and 93 MW of hydro capacity, as well as
331 MW of projects in execution.
IFC’s strategy in Brazil is focused
on improving the country’s competitiveness, supporting job creation, infrastructure
development and access to financial services for underserved sectors. IFC’s
environmental and social standards aim to support sustainable development
in various industries in the country.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.
About Enel Green Power
Enel Green Power is the Enel Group company
fully dedicated to the development and management of renewable energy sources
at the international level, with operations in Europe and the Americas.
The company generated over 29 billion kWh in 2013 from water, sun, wind
and the Earth’s heat - enough to meet the energy needs of more than 10
million households and avoid the emission of around 16 million tonnes of
CO2 into the atmosphere. Enel Green Power is a world leader in the sector
thanks to its well-balanced generation mix, providing generation volumes
well over the sector average. The company has an installed capacity of
approximately 8,900 MW from a mix of sources including wind, solar, hydroelectric,
geothermal, and biomass. The company has approximately 750 plants operating
in 16 countries in Europe and the Americas.