Brazil's Eneva gets loan for 870-MWp solar complex

• Brazilian natural gas and also power company Eneva SA (B3: ENEV3) has protected a loan to fund the growth as well as construction of the 870-MWp Futura 1 solar photovoltaic (PV) project.

Under the regards to the deal, neighborhood lending institution Banco do Nordeste do Brasil SA (BVMF: BNBR3), likewise referred to as BNB, will disburse BRL 300 million (USD 58.3 m/EUR 56.9 m) via its FNE line of credit to SPE Futura 4 Geracao e Comercializacao de Energia Solar, Eneva stated last week.

Located in Bahia state, Futura 1 is scheduled to enter commercial operations in the 4th quarter of 2022.

BNB's loan has a regard to 24 years with an 18-month grace period for interest as well as principal, at a price of the National Consumer Price Index (IPCA) plus 3.49% per annum considering the contractual compliance bonus.

The firm noted that the latest agreement enhances the BRL-450-million loan signed with BNB in 2021 likewise for the financing of Futura 1.