January 10 (Renewables Now) - Brazil's Minas Gerais government approved a law that adds micro and distributed generation (DG) solar systems to the list of projects that can rely on the state's Socioeconomic Development Fund (Fundese).
The 22,866 law will make it easier for small and medium-sized companies, as well as cooperatives, to finance DG projects, such as photovoltaic (PV) arrays. It allows for the creation of new financing options for such schemes.
Currently there are 4,401 solar connections to Minas Gerais utility Cemig's (BVMF:CMIG4) network and the state now becomes a national benchmark for public financing of DG systems, according to deputy Gil Pereira, author of the bill turned into law.
Recently, Brazil's Photovoltaic Solar Energy Association (Absolar) announced that the country had surpassed 1 GW of installed solar capacity.