NDB will finance the construction of the Serra da Palmeira power project, a 648-MW wind power project in the State of Paraíba, Brazil. The Project, with wind turbine generators to be imported from China, showcases increasing cooperation among NDB member countries. The Project’s associated facilities include the construction of a 34.5/500-kV substation and a 75-km long 500-kV transmission line connecting the Project to the Campina Grande III substation, which is the interface with the national grid.

The Project will contribute to the expansion of Brazil’s renewable energy capacity and the diversity of the country’s overall power matrix. Investments in the Project will bring economic benefits to an underdeveloped Paraíba State area in northeast Brazil. The Project contributes towards diversification of economic activities in the region, employment generation, and increased tax revenues for local government.

The project will be implemented by 23 special purpose vehicles, all step-down subsidiaries of the Borrower, in accordance with laws and regulations in Brazil. Specialised contractors will construct the project as per theor respective scope of work. The Project procured wind turbine generators produced by Goldwind Science & Technology Limited.

The project has been categorized as Category A in line with NDB’s Environment and Social Framework (“ESF”). Potential adverse E&S impacts and risks include large-scale vegetation suppression and impacts on biodiversity, noise and shadow flicker effects, physical relocation and economic displacement of households, etc. The Project’s E&S impacts and risks will be mitigated by following country system requirements and effective implementation of Environmental and Social Impact Management Plan (“ESIMP”). The project, upon fulfilling all those requirements, will be in compliance with NDB ESF.