BNDES to back 4-MW solar project in Brazil

• The Brazilian Development Bank, or BNDES, has authorized BRL 28 million (USD 5.6 m/EUR 4.9 m) in financing to support a 4.07-MW solar energy project established by agro-cooperative Copacol in the south of the nation.

BNDES claimed on Monday that the new solar center need to can producing 7,000 MWh each year, sufficient to fulfill part of the energy usage of as much as 50 units of the participating in Parana state.

The concurred financing covers 90% of the overall BRL 31.4 million needed for the project. It was approved as part of the bank's Climate Fund programme.

When up and running, the solar farm will certainly allow Copacol to save around BRL 4.5 million in electrical energy costs every year on average, BNDES noted.