Brazil’s development bank Banco Nacional de Desenvolvimento Economico e Social (BNDES) will provide low interest rate loans for four wind turbine suppliers by December. Following an audit in June, wind powerhouses Vestas, Suzlon, Siemens, Acciona, and Fuhrlaender were accused of not supplying 40% of their parts via local manufacturers. It has not been released which of these companies will be able to refinance.
Three of the companies will be eligible for low-cost loans within 40 days and a fourth within 90 days, Elbia Melo, executive president of Sao Paulo-based wind-industry trade group, Associacao Brasileira de Energia Eolica, said in a telephone interview with Bloomberg.
Many countries in Africa are attempting to do the same thing as one South American giant in order to boost local content.
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