BNDES launches USD-551m credit line for renewable energy projects
Solar array. Author: h080.
The Brazilian Development Bank, or BNDES, announced on Thursday it has created a BRL-2.2-billion (USD 551m/EUR 473m) credit line for renewable energy projects in the country.
Named BNDES Finame - Energia Renovavel, the line targets individuals as well as small and medium-sized business, according to the press release from the federal government.
It will finance up to 100% of the acquisition of photovoltaic (PV) generation systems, wind turbines, installation services and other equipment. It has a payment term of up to 10 years and a two-year grace period.
During the launch ceremony, President Michel Temer stressed that the initiative is in line with the country's commitment to stimulate economic and social development in a sustainable way, benefiting both the population and companies. The head of BNDES, Dyogo Oliveira, added that the new credit line will help boost the development of new technologies in Brazil.