BNDES to support 12 MWp of DG solar systems in Brazil

• The Brazilian Development Bank, or BNDES, revealed on Thursday that it is supporting 12 MWp of dispersed generation (DG) solar projects.

Especially, BNDES has purchased BRL 57 million (USD 11.3 m/EUR 10.2 m) of the BRL-60-million green debentures issued by credit securitisation business Amazonia Solar Companhia Securitizadora de Creditos Financeiro.

The money will certainly make it possible for a collaboration with photovoltaic or pv (PV) microgeneration systems fintech Solfacil in order to finance as well as create some 1,600 DG solar arrays in residencies as well as regional firms in Brazil's North region, particularly in the Amazon.

In all, this pilot project need to have the ability to satisfy the need of some 7,000 family members. This effort is additionally the very first time BNDES runs in this format.

In addition to replacing diesel with solar power as well as lowering the electricity bill by up to 90%, the customer will come to be the owner of the PV system after the car loan is settled, the bank noted.