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First Financing in Yuan in Brazil Came to Life in 2025, RMB 160 Million via ICBC Brazil for Modules and Inverters of the Lagoinha Solar Complex in Ceará. Settlement in RMB Reduces Exposure to the Dollar.
The first financing in yuan (RMB) for an energy project in Brazil is already a reality. CGN facilitated the import of modules and inverters for the 165 MW Lagoinha Solar Complex in Ceará through a RMB 160 million operation structured by ICBC Brazil, a bank authorized to operate as a clearing for yuan in the country.
The case leaves aside the rhetoric and shows a concrete operational flow of dedollarization in the energy supply chain according to the People’s Bank of China.
The Lagoinha Solar Park was inaugurated on June 27, 2025 and marks a turning point for companies that buy equipment in Asia. With 304 hectares and an estimated capacity to supply around 200,000 homes, the asset has become a showcase of how RMB can reduce costs and currency risk in specific stages of the project.
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Financing in Yuan in Brazil: The CGN Case and the Role of ICBC Brazil
The CGN operation is trade finance in RMB for the import of Longi modules and inverters. It is not a full financing of the plant but rather commercial credit linked to the purchase of equipment. The central point is that the settlement occurs in yuan, aligned with the supplier, avoiding unnecessary conversions and providing cost predictability.
ICBC Brazil joined the game after being appointed by the People’s Bank of China as the RMB clearing bank in Brazil in February 2023. This infrastructure reduces operational friction, shortens settlement times, and paves the way for letters of credit in RMB with Chinese suppliers.
On the asset side, Lagoinha Solar consolidates the “green light” signal for RMB in the Brazilian electricity sector. 165 MW, 304 ha, inauguration on June 27, 2025, performance and scale enough to turn the case into a replicable benchmark for other projects relying on Asian inputs.
BRICS and COP30: Why Timing Accelerates Green Dedollarization
The topic is gaining momentum in 2025. At the BRICS from July 6 to 7 in Rio, leaders reinforced the agenda of financing for development and use of local currencies. The discussion on climate and infrastructure dominated the agenda and expanded the space for alternative funding structures.
In November, COP30 in Belém is set to focus on energy transition, climate funds, and new credit windows. Projects with a Chinese supply chain gain an advantage by combining green labels with settlement in RMB when purchases are made in China.
The pipeline is already taking shape. In November 2024, BNDES secured a 5 billion yuan loan with the China Development Bank, the first operation in Chinese currency for the development bank. In March 2025, the New Development Bank signed RMB 1.425 billion with CPFL for network modernization in São Paulo, the first RMB transaction by CPFL and a milestone in the electricity sector.
Costs, Currency Risk, and What Changes for Companies
For those purchasing equipment in China, matching the contract currency with the supplier’s currency can smooth out dollar volatility and reduce conversion costs. In trade finance, each percentage point of exchange rate and spread makes a difference in the competitiveness of CAPEX and LCOE. In the case of CGN, settlement in RMB is the link that closes this account.
The infrastructure for payments and financial messaging has also evolved. In addition to the local RMB clearing in Brazil, CIPS enhances international connectivity for the yuan, while data from the SWIFT RMB Tracker shows RMB’s share at 2.88% of global payments in June 2025, maintaining the 6th position. This does not replace the dollar, but sustains a gradual and pragmatic use.
There are limits. Hedge, governance, sanction compliance, and natural revenue cover remain crucial. If the revenue is in reais and the input mix comes from multiple sources, the account may not balance in RMB throughout the chain. The trend, however, is to use the yuan where it reduces friction and risk and keep other currencies where it makes sense.
And Now: Who Could Be Next
The electricity sector is expected to lead. After CGN and CPFL/NDB, concessionaires and generators with imported CAPEX are likely to test letters of credit and advances in RMB in specific stages, especially for high-value equipment.
In agriculture and industry, medium and long-term contracts with Chinese suppliers may shift a portion of settlement to RMB, reducing dollar exposure in the import of machines, panels, inverters, components, and chemicals. Progress depends on document standardization and local banks with operational appetite.
For investors and financial managers, the checklist for 2025 includes currency clauses, hedge coverage, total spreads, and monitoring announcements in BRICS and COP30. The new fact is clear, Brazil already has RMB clearing and a successful operational case. This does not end the dollar’s dominance, but opens a competitive route for projects with Asian supply chains and a green label.
Quanta besteira se publica para puxar i saco do governo ****, seu **** , fica querendo ajudar a enganar que lê esta matéria que não informa nada,cuidado com o que fala , vc pode estar na lista do Trump.
Uhhh! Mais um patriotário mordendo o @, de raiva. E aí paga **** do Dudu Bananinha e Trump, vai para o EUA para ser enxotado como a Zambelli vai ser daqui a pouco.
Muitos falam bem da Rússia, China, Índia e Cuba, mas poucos ou quase ninguém quer trabalhar e viver nesses Países. Mas nós Países Capitalistas Imperialistas todos querem, até os supostos ****.
Estamos rumo a uma guerra contra EUA