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EDPR obtains EIB financing to develop wind, solar projects in Brazil

EDP Renováveis Brasil SA has secured €150 million in financing from the European Investment Bank for the development of wind and solar power generation plants in Brazil.

"[T]his credit line will help us to continue with our establishment in Brazil, a country in the midst of a transition towards a more environmentally friendly energy mix," EDP Renováveis SA CEO João Manso Neto said in a Sept. 5 statement.

In Brazil, the company has a project pipeline that can produce nearly 1.8 TWh a year of clean energy by 2023. EDP Renovaveis said it may seek additional long-term senior debt from other financial institutions to procure the funds required for its projects.