January 10 (Renewables Now) - The Brazilian Development Bank, or BNDES, has approved a loan of about BRL 95 million (USD 23.2m/EUR 20.9m) to support a 14-MW small hydropower plant (HPP), local media reported on Thursday.
The financing will cover 75% of the total BRL 126.5 million needed for the Nova Guapore small HPP. The facility will be developed by a special purpose entity (SPE) named Nova Guapore Energetica, a subsidiary of domestic company Grupo Polimix.
BNDES' disbursement is provided under its Finem credit programme intended for electricity generation. The project has to be completed in up to two years.
Polimix also has a BRL-72-million financing with BNDES for the Lajari small HPP.
Last week, the bank approved a loan of about BRL 1.3 billion to support 370.8 MW of wind projects developed by Iberdrola SA (BME:IBE)
(BRL 1 = USD 0.244/EUR 0.220)