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São Paulo, May 15
th
, 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.
About IFC
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
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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.
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