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Joint initiative by BNDES and Finep aims to transform the sustainable fuels sector in Brazil, focusing on SAF and marine fuels, encouraging innovation and sustainability
The National Bank for Economic and Social Development (BNDES) and the Studies and Projects Financier (Finep) have just announced a historic initiative to boost the production of sustainable fuels in Brazil. In an unprecedented partnership, the two institutions will allocate a total investment of BRL 6 billion, with the aim of promote the creation and operation of biorefineries that will produce sustainable aviation fuel (SAF) and fuels for the maritime sector. This movement is a milestone in the country's energy transition and aims to position Brazil as a global leader in fuel production green, according to the Petrosolgas website.
Innovation and sustainability: The focus of investment
The official announcement was made in Brasília, in a ceremony that was attended by the Vice President of the Republic and Minister of Development, Industry, Commerce and Services, Geraldo Alckmin, accompanied by the president of BNDES, Aloizio Mercadante, and the president of Finep, Celso Pansera. During the event, Alckmin highlighted the importance of the initiative for the future of sustainable energy in Brazil, stating that the country has all the resources needed to become a world leader in SAF production and sustainable fuels for navigation.
The joint public call is open to Brazilian companies that operate in the production of fuels or that are involved in research and development of innovative technologies. Both individual companies and consortiums can participate, encouraging collaboration between different sectors and the strengthening of new biorefinery ventures in the country. Interested companies have until October 31, 2024 to submit their projects, which must include a minimum credit demand of R$20 million.
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Expected impact on the fuel sector and the Brazilian economy
The development of biorefineries focused on Production of sustainable fuels has the potential to revolutionize the energy sector in Brazil. SAF, for example, is produced from renewable sources and can significantly reduce greenhouse gas emissions in aviation. Likewise, sustainable fuels for the maritime sector can contribute to the decarbonization of this sector, which is one of the main sources of global pollution.
Besides driving technological innovation, the initiative of BNDES and Finep aims to create a favorable environment for the sustainable growth of Brazilian industry. By supporting projects that promote sustainability and energy efficiency, Brazil positions itself as an important actor in the transition to a low-carbon economy, ensuring its leading role in the fight against climate change.
Selection criteria and focus on innovative projects
The submitted business plans should cover a wide range of activities, including technological research and development, engineering projects, construction of pilot plants, acquisition of machinery and equipment, and working capital. Priority will be given to projects that promote innovation and sustainability, aligned with the country's economic development and energy transition goals.
Assessment of business plans will be carried out by a working group composed of representatives from BNDES and Finep, in addition to members of ministries and regulatory agencies, such as the National Civil Aviation Agency (ANAC), the National Waterway Transport Agency (ANTAQ) and the National Petroleum Agency, Natural Gas and Biofuels (ANP). The selection process will take place in three stages: presentation of plans, selection of projects and creation of the Joint Support Plan (PSC) for each approved project. This plan will be a strategic document that will indicate the most appropriate financial instruments for each project, such as credit, subsidy or equity participation.
