Brazil's BRDE backs 4-MW solar project in Rio Grande do Sul

• Brazil's Regional Bank for the Development of the Far South, or BRDE, has approved a BRL-20-million (USD 3.8 m/EUR 3.6 m) credit line to support a 4.3-MW solar power project created by farming and industrial cooperative Cotrijal in the south of the nation.

Situated in the town of Nao-Me-Toque, Rio Grande do Sul state, the new solar center is expected to help the cooperative lower its electrical energy bill by around BRL 5 million annually, BRDE claimed on Monday.

The bank noted it recorded solid development last year in regard to the assistance it gives to eco-friendly and also power efficiency projects. In overall, it approved BRL 205 million in funding for tiny hydropower plants, solar (PV) parks as well as new systems of public illumination in Rio Grande do Sul alone.