Brazil's Banco BV launches USD-20m credit line for solar projects

Solar array. Author: Som Energia Cooperativa. License: Attribution 2.0 Generic.

Brazilian privately-owned lender Banco BV announced this week it will provide BRL 100 million (USD 20m/EUR 16.8m) in financing for solar projects to over 20,000 partners.

The credit line will be available to those looking to install solar photovoltaic (PV) panels to supply power to their residential or commercial properties.

After a pilot phase in the Baixada Santista region, Sao Paulo state, BV intends to reach clients in more locations in the country.

The move is in line with the bank’s environmental, social and corporate governance (ESG) criteria that will guide its green initiatives until 2030, it noted.

(BR 1.0 = USD 0.201/EUR 0.168)

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