BNDES Authorizes Financing for 505 MW of Solar Energy in Brazil

Written by Paulo Nogueira

Published on 26/10/2020 at 08:27

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Of This Amount, A Solar Energy Project In Bahia Will Take The Largest Part Of The Budget To Be Built By The Brazilian Essentia Energia

The National Bank for Economic and Social Development (BNDES) said on Friday (23) that it will support the construction of 505 MW of solar projects through loans of over BRL 1.1 billion (USD 195.7 million / EUR 165 million).

Of the total, R$ 910 million will be allocated to the Sol do Sertão Solar Complex, which is 415 MW, in Oliveira de Brejinhos, Bahia. The Brazilian Essentia Energia is the project developer. Also see the largest photovoltaic project company in Vale do Paraíba created by 3 young Brazilians.

The photovoltaic (PV) park is expected to start operating in the second half of 2021 and generate enough energy to meet the demand of 580,000 households.

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Two photovoltaic parks – Araxá 1 and 2, owned by Spanish Powertis SA – will benefit from the remaining R$ 194 million. They will be located in the state of Minas Gerais and will have a total installed capacity of 90 MW. Planning to put them into operation by the end of 2021, the Spanish company estimates that the photovoltaic plants will be able to cover the consumption of 123,000 homes once operational.

Related: Walmart Also Takes Steps To Enter The Solar Energy Sector

Both loans are granted under BNDES’s Finem credit program, which takes into account the social benefits that the projects can generate.

BNDES Authorizes Financing for 505 MW of Solar Energy in Brazil

Of This Amount, A Solar Energy Project In Bahia Will Take The Largest Part Of The Budget To Be Built By The Brazilian Essentia Energia

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