BNDES o.k.s moneying for 505 MW of solar in Brazil

• Brazil's National Development Bank (BNDES) stated on Friday it will certainly sustain the building and construction of 505 MW of solar projects via lendings of over BRL 1.1 billion (USD 195.7 m/EUR 165m).

Some BRL 910 million of the total amount will be made use of for the 415-MW Sol do Sertao Solar Complex in Oliveira de Brejinhos, Bahia state. Brazil's Essentia Energia is the project developer.

The solar (PV) park is set up to begin procedures in the 2nd fifty percent of 2021 and create sufficient power to satisfy the demand of 580,000 homes.

2 PV farm projects-- Araxa 1 and also 2 had by Spanish Powertis SA-- will take advantage of the continuing to be BRL 194 million. They will be situated in Minas Gerais state and will certainly have a complete installed capability of 90 MW. Planning to bring them obey completion of 2021, the Spanish company approximates that the PV plants will be able to cover the usage of 123,000 homes once operational.

Both fundings are offered under BNDES' Finem debt programme, which takes into account social benefits that the projects can produce.