ANNOUNCED AS TEMPORARYNo
On 13 December 2012, Brazil's Development Bank (BNDES) raised the local content requirement for the issuance of loans for wind turbine manufacturers to 60%. The BNDES has set out five stages until 1 January 2016 with a gradual increase of local content requirements to the new level. The products trageted by this measure are the four main elements of wind turbines: blades, cubes, nacelles and towers.
On 30 January 2014, BNDES decided to prolong the above mentioned five stage process until 1 July 2016.
The Brazilian Development Bank provides credits with below-market interest rates to legal persons (private or public) with headquarters and administrations in Brazil.In the case of companies with headquarters abroad, majorityshareholders (private or public) need to have residence in Brazil. Besides this, the bank imposes local content requirementson goods (mainly capital goods), services and software. However, itmakes exceptions when there is no national production of those goods.
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