The Brazilian Development Bank (BNDES) approved financing totaling R$ 690 million for TGR Subholding 1 S.A., a subsidiary of Casa dos Ventos, a leader in renewable energy generation and a key player in Brazil's energy transition, to implement two wind farms, which are part of the Serra do Tigre Wind Complex, in the municipalities of Campo Redondo, Currais Novos, Lajes Pintadas, and São Tomé, all in Rio Grande do Norte.
Of the total financed, R$ 500 million are resources from the Climate Fund (an operation contracted under the new conditions for supporting wind projects, approved by the National Monetary Council in December 2024) and R$ 190 million are from BNDES Finem (Incentivized Line B/Energy). In total, the project foresees an investment of R$ 889.4 million.
Serra do Tigre is a wind complex comprising 12 parks, with a total capacity of 756 MW. Implementation began in the fourth quarter of 2023, and full commercial operation is expected by early 2026. The construction of the entire complex is projected to generate approximately 3,500 direct and indirect jobs.
BNDES's financing covers two parks within the complex: Ventos de São Rafael 03 and 06, with a total installed capacity of 121.5 MW, and the associated transmission system consisting of two transmission lines, each 114 km and 25 km long, and two collector substations. The complex will connect to the National Interconnected System (SIN) via the Santa Luzia II Substation (SE), owned by Grupo Neoenergia.
The wind turbines for the Serra do Tigre Wind Complex will be supplied by Vestas, manufactured in Aquiraz, Ceará.
"BNDES is the largest financier of clean energy in the world, with over US$ 36 billion allocated to projects for the sector in Brazil since 2004, according to Bloomberg research. The approved project for the Serra do Tigre Complex is in line with the Bank's mission to contribute to the diversification of Brazil's energy matrix, using a renewable energy source and avoiding the emission of greenhouse gases equivalent to 188.4 thousand tons of CO2 per year," states BNDES President, Aloizio Mercadante.
TGR Subholding 1 S.A. controls two special purpose entities (Ventos de Santa Bertilla and Ventos de Santa Isabel), responsible for the implementation and operation of the wind farms and the associated transmission system, which are part of the Serra do Tigre Wind Complex.
"The Serra do Tigre Wind Complex will be one of the largest in Brazil and an important addition to Brazil's renewable electricity matrix, accelerating the country's energy transition. We are at the forefront of this movement with a robust portfolio and always seeking the best financing options for our ventures," explains Ivan Hong, CFO of Casa dos Ventos.
