BNDES okays loan for 390-MW renewable power transmission project

The Brazilian Development Bank (BNDES) has approved a BRL-166-million (USD 31.1m/EUR 26.5m) loan for the development of transmission projects for 390 MW of solar and hydropower plants (HPPs).

The beneficiary is Energisa Tocantins Transmissora de Energia SA, a unit of privately-owned energy company Grupo Energisa. The loan represents 25% of the total BRL 660 million cost, the bank announced on Tuesday.

Under the terms of the loan, the fund will finance the implementation of three new power transmission lines, a brand new substation in Tocantins state as well as the expansion of another two lines in Tocantins and Bahia.

Once up and running, this transmission portfolio will be able to supply enough electricity to power around 900,000 households. Overall, the project will benefit 500,000 consumers and create over 5,500 direct and indirect jobs during its construction and operation.

(BRL 1.0 = USD 0.188/EUR 0.160)

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