GreenYellow bags BNDES funds for 19 MW of solar in Brazil

Solar PV plant in Brazil

September 21 (Renewables Now) - French clean energy solutions provider GreenYellow will be extended project finance to bankroll 19.2 MW/27.6 MWp of solar PV projects in Brazil.

Brazilian development bank BNDES on Tuesday said it had approved funds in the amount of BRL 63 million (USD 12.2m/EUR 12.4m) to support 11 projects across the country. GreenYellow is set to invest a total of BRL 115 million in the whole effort.

The plants will be located in the Federal District and the states of Sao Paulo, Ceara, Rio Grande do Sul, Parana, Rio Grande do Norte and Rio de Janeiro. According to the bank, GreenYellow will have them in operation over the coming months and wrap up works by 2023.

The new solar farms will feed electricity to consumption points of companies connected to low voltage distribution grids, BNDES added.

(BRL 1.0 = USD 0.194/EUR 0.196)

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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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