The European Investment Bank (EIB) has signed a €200m (BRL1.2bn) loan to Neoenergia, the Brazilian affiliate of the Spanish energy group Iberdrola, to finance the 567 MW Oitis wind project located in Bahia and Piauí, the 471 MW Chafariz wind project in Paraíba and the 149 MW Luzia solar project in Paraíba (Brazil). The loan was approved in January 2022.
The Chafariz plant is already operational, while the Oitis and Luzia projects are under construction. The Oitis wind project consists of 12 wind parks, and should be fully operational by the end of December 2022. It reached financial close in September 2020, securing loans from the Brazilian regional development bank Banco do Nordeste and from the Brazilian Development Bank (BNDES).