EDP Brasil gets USD 33m from BNB for transmission project

Transmission lines. Author: Nayu Kim. License: Creative Commons, Attribution 2.0 Generic.

January 4 (Renewables Now) - The Brazilian Northeast Bank, know as Banco do Nordeste (BNB), will extend a BRL-124.5-million (USD 33m/EUR 29m) credit line to EDP Energias do Brasil SA (B3:ENBR3) to develop a previously won transmission line batch.

As part of the agreement with EDP's subsidiary EDP Transmissao MA II, BNB will provide funds from the Constitutional Fund for Financing of the Northeast - FNE.

EDP said in a statement that the fresh financing covers about 70% of the total capex for the project. It secured the award in a transmission tender held in 2016.

The company already has an environmental licence and is awaiting for the approval of the installation licence to start construction works, it said.

(BRL 1 = USD 0.27/EUR 0.23)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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