The Brazilian National Bank for Economic and Social Development (BNDES) has granted a BRL3.16bn (US$641m) loan to support the construction of the 553 MW Babilonia Centro wind complex developed in the Brazilian state of Bahia. The loan will finance 80% of the total investment required to build the project that is being developed by Ventos de Santos Antonio Comercializadora de Energia, a joint venture between steel manufacturing company ArcelorMittal and Brazilian renewable energy company Casa dos Ventos Energias. ArcelorMittal Brazil will enter into a 20-year power purchase agreement (PPA) for the totality of the electricity generated from the wind park, meeting around 40% of ArcelorMittal's electrical demand in Brazil. The project is scheduled to become operational in October 2025. The Babilonia Centro project could later be expanded by a 100 MW solar project.
At the end of 2022, Brazil had a total installed capacity of 205.5 GW, of which 23.7 GW (11.5%) come from wind.