Brazilian Bank Puts Up $185M For Iberdrola Wind Farms

Law360, New York (June 11, 2012, 7:50 PM EDT) -- Brazil's national development bank signed off on 378 million Brazilian reais ($184.5 million) worth of loans to Spain's Iberdrola SA and Brazilian counterpart Neoenergia SA to help finance five wind farms the companies are planning for the northeastern part of the country, according to an announcement Monday.

The loans cover a big chunk of Iberdrola and Neoenergia's 594.5 million reais plan to install 150 megawatts of wind power generation capacity, the Brazilian Development Bank, or BNDES, said in a statement.

The funding comes as part of...
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