April 6 (Renewables Now) - Banco do Brasil launched this week a renewable energy programme through which the lender plans to release BRL 2.5 billion (USD 802m/EUR 752.3m) by the end of the year.
Named Programa Agro Energia, the initiative focuses on activities conducted by individuals, companies and cooperatives in the agricultural sector, Banco do Brasil said in its press release.
The programme aims to boost the implementation of solar, biomass and wind power projects that could result in cost reductions for farmers. It also intends to help with the transfer of new technology to the rural areas and the expansion of business with the agricultural sector.
Through this support, the bank recognises the importance of renewable energy generation projects with different conditions for the Brazilian agribusiness, it noted.
(BRL 1 = USD 0.321/EUR 0.301)