ECG Econergy Intl

    RNS Number : 1916A
  Econergy International Plc
  30 July 2008
   







    Econergy International PLC

    Closing of Long Term Financing for Beberibe Project


    Econergy International PLC ("Econergy International" or "the Company"), a renewable Independent Power Producer (IPP) focused primarily
on the Americas, is pleased to announce a significant development relating to its 25.6 MW Beberibe wind project. 

    Econergy's subsidiary, Usina Eca Econergy Beberibe S.A. , has closed a limited recourse long term take-out loan  from Brazil's Banco
Nacional de Desenvolvimento Econco e Social (BNDES). Key terms and conditions include:

    *     Loan amount of R$94.9 MM (USD$54.2 MM) or 63.5% of total project cost;
    *     A term of 14 years, post an initial grace period on payment of interest and principal until January 15, 2010;
    *     Interest rate of TJLP (Taxa de Juros de Longo Prazo, the long-term interest rate in Brazil) plus 3.02%, an overall interest rate
of 9.27% today; 
    *     Econergy International will provide i) an unsecured guarantee for the full amount of the loan and ii) annual payment support until
the Reserve Accounts are fulfilled (Debt Service Reserve Account, and Operations and Maintenance Reserve Account) at which time the loan
will become fully non-recourse to the Company for the remainder of its term.

    Beberibe will generate 88,590 gross MWh per year. The plant is expected to enter into commercial operations in the third quarter of
2008.  A 20-year power purchase agreement with Eletrobr is already in place.

    Tom Stoner, CEO of Econergy International said;

    "This is Econergy's second fully financed project in Brazil and represents yet another significant milestone in our progress.  The
Beberibe project continues on track and is expected to be operational during the third quarter of 2008. We have built up a strong
relationship with BNDES and other lenders in Brazil, and we are reviewing other potential projects with them. "  

    Contacts:

 Econergy International PLC
 Tom Stoner, Chief Executive  Tel: +1 303 473 9007

 Pelham Public Relations
 Chelsea Hayes                Tel. +44 (0)20 7743 6675
 Archie Berens                Tel. +44 (0)20 7743 6679


    NOTES FOR EDITORS

    Econergy International

    Econergy International is a renewable Independent Power Producer (IPP) focused primarily in the Americas. The Company's strategy is to
develop, build, own and operate renewable power plants as well as optimize clean energy assets that add economic value. Econergy
International's Latin American portfolio to date includes the acquisition and development of hydroelectric and wind power projects in
Bolivia, Brazil, Mexico and Costa Rica. In the US, the Company's focus is on generating renewable electricity from biomass resources
including agricultural wastes, dedicated energy crops, and municipal solid waste. Other sources of renewable energy are explored according
to the Company's investment strategy which is built around delivering the optimal risk adjusted rate of return to shareholders. The Company
now has one coal mine methane capture and use project under construction in the US.

    In addition to developing renewable power projects, Econergy International is also actively engaged in the carbon markets and provides
advisory services, all of which give Econergy International its unique ability to source projects in its core markets.  

    In February 2006, Econergy International floated on AIM, a market operated by the London Stock Exchange. 

    For further information visit: www.econergy.com






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