China's Largest Energy Company Seeks To Expand Its Investments In Brazil With Partnership From Banco do Nordeste

China’s Largest Energy Company Seeks To Expand Its Investments In Brazil With Partnership From Banco do Nordeste

Written by Valdemar Medeiros

Published on 12/06/2023 at 11:45

Foto: 中广核巴西交割仪式Cerimônia de Entrega de Posse da CGN – Chinarte Cultura Media

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Banco do Nordeste Welcomes Visit from Chinese Executives Planning Investments in the Country. The Company’s Most Recent Project is a Wind Farm in Bahia.

On Wednesday (7), Paulo Câmara, president of Banco do Nordeste (BNB), received representatives from the Chinese Consulate and executives from the Chinese group CGN Brazil Energy at the bank’s headquarters in Fortaleza, who were supported financially by BNB.

China Plans to Continue Investing in Brazil

Wang Ke, deputy consul general of the Chinese Consulate General in Recife, attended the presentation of China’s investments in the energy sector in the region and expressed his intention to assist Brazil in its energy transformation process.

Meanwhile, 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 continues to drive the clean energy sector in the Northeast of the country.

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Other Partnerships and Investments from Banco do Nordeste

In addition to the partnership with the Chinese group, BNB also signed a financing agreement worth R$ 282.2 million with the energy generator SPIC Brasil earlier this year. The amount will be allocated to the development of the wind farms Pedra Amolar I, Paraíso Farol II, and Pedra Amolar II, 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 Constitutional Financing Fund (FNE), a branch paying interest at the rate of IPCA +3.68% per year, with repayment divided over 24 years.

The wind complex will also feature the construction of the Paraíso Farol III park, financed through another credit modality; however, the proposal is still under review. Over 20% of the resources used for developing the parks come from the company’s own capital.

In total, the new Wind Generation plants will have an installed capacity of approximately 105 MW.

Learn About Banco do Nordeste

Banco do Nordeste do Brasil has the mission of operating as the development bank of the region, and it implements an agile and selective development policy capable of decisively helping to overcome challenges and develop a standard of living compatible with the resources, potential, and opportunities of the region.

The BNB 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 ability to enhance family well-being and the competitiveness of businesses. The bank operates by valuing Justice, Honesty, Governance, Sustainability, Democracy, Equality, Transparency, Respect, Commitment, Trust, Cooperation, Discipline, Civility, among others.

China’s Largest Energy Company Seeks To Expand Its Investments In Brazil With Partnership From Banco do Nordeste

Banco do Nordeste Welcomes Visit from Chinese Executives Planning Investments in the Country. The Company’s Most Recent Project is a Wind Farm in Bahia.

China Plans to Continue Investing in Brazil

Other Partnerships and Investments from Banco do Nordeste

Learn About Banco do Nordeste

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China’s Largest Energy Company Seeks To Expand Its Investments In Brazil With Partnership From Banco do Nordeste

Banco do Nordeste Welcomes Visit from Chinese Executives Planning Investments in the Country. The Company’s Most Recent Project is a Wind Farm in Bahia.

China Plans to Continue Investing in Brazil

Other Partnerships and Investments from Banco do Nordeste

Learn About Banco do Nordeste

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