Enel Green Power and IFC have signed a ten-year $200m loan agreement aimed at developing renewable energy in Brazil.

The loan will be used to support the construction of wind power projects totalling over 300 MW in the states of Bahia,Pernambuco and Rio Grande do Norte.

“This investment 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,” Enel Green Power CFO Giulio Carone said.

IFC Brazil Country Manager Hector Gomez Ang said, “Access to reliable power generation from diversified sources is a key component of Brazil’s long-term competitiveness and sustainable social and economic growth.”

Enel Green Power owns and manages about 173 MW of wind power plants and 93 MW of hydro plants, with 331 MW of projects in execution.