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China's largest energy company wants to expand its investments in Brazil in partnership with Banco do Nordeste

Written by Valdemar Medeiros
Published 12/06/2023 às 11:45
China's largest energy company seeks to expand its investments in Brazil with Banco do Nordeste partnership
Photo: 中广核巴西交割仪式 CGN Inauguration Ceremony – Chinarte Cultura Media

Banco do Nordeste receives visit from executives from China who plan to invest in the country. The company's most recent project is a wind farm in Bahia.

Last Wednesday (7), Paulo Câmara, president of Banco do Nordeste (BNB), received at the bank's headquarters, in Fortaleza, the visit of representatives of the Chinese Consulate and executives of the Chinese group CGN Brazil Energy, which had financial support from BNB. 

China plans to continue investing in Brazil

Wang Ke, Deputy Consul General of the Consulate General of the Republic of China in Recife, followed the presentation of China's investments in the energy sector in the Region and affirmed its intention to help Brazil in the energy transformation process.

The president of Banco do Nordeste stated that he is very pleased to support CGN's energy projects and contribute to the region's economic development. BNB is committed to consolidating this partnership and continuing to drive the clean energy sector in the Northeast of the country. 

According to Yao Zhigang, CEO of the China CGN group, the purpose of the visit is to thank Banco do Nordeste for its support to the group and present new expansion projects. The executive states that the company recently inaugurated a new headquarters in São Paulo, thus showing its intention to continue investing in Brazil in the near future.

Currently, the Bank is present in the group's energy projects in China with total financing amounting to R$ 1,6 billion.

The most recent project is the Tanque Novo wind energy park, in Bahia, which has an installed capacity of 180 MW. Banco do Nordeste's stake in this project is R$ 200 million. During the visit, the group presented its intention to expand the operation by another R$ 355 million.

Other Banco do Nordeste partnerships and investments

In addition to the partnership with the China group, BNB also closed a financing agreement worth R$ 282,2 million with the energy generator SPIC Brasil earlier this year. The amount will be used in the development of the Pedra Amolar I, Paraíso Farol II and Pedra Amolar II wind farms, located in the municipality of Touro.

The credit will be released according to the disbursement schedule and progress of the works. Banco do Nordeste's resources come from the Northeast Financing Constitutional Fund (FNE), a branch remunerated by the IPCA +3,68% pa and with the payment divided into 24 years.

O wind complex will also include the construction of the Paraíso Farol III park, financed through another type of credit, however the proposal is still being analyzed. More than 20% of the resources used in the development of the parks come from the company's own capital.

In total, the new wind generation plants will have approximately 105 MW of installed capacity.

Discover Banco do Nordeste

Banco do Nordeste do Brasil's mission is to act as the region's development bank, and implements an agile and selective development policy, capable of decisively helping to overcome challenges and to develop a standard of living compatible with the resources, potentialities and opportunities of the region.

O BNB Faucet it is the largest regional development bank in Latin America and stands out from other institutions for its objective.

The Bank aims to be the preferred institution in the region, recognized for its capacity to generate the well-being of families and the competitiveness of companies. The bank works by valuing Justice, Honesty, Governance, Sustainability, Democracy, Equality, Transparency, Respect, Commitment, Trust, Cooperation, Discipline, Civility, among others.

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Valdemar Medeiros

Journalist in training, specialist in creating content with a focus on SEO actions. Writes about the Automotive Industry, Renewable Energy and Science and Technology

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