Brazil: 5 solar PV module factories accredited by BNDES

Brazil’s Bank of Economic and Social Development (BNDES) reports that there are now five PV module factories accredited under its Finame program, and another 15 solar manufacturing projects. In total, there are 17 manufacturers with accredited industrial projects under the program, according to a BNDES press release.

In addition to the five module factories, BNDES has accredited seven inverter production facilities, five PV system providers, two for monitoring systems and one connection box plant.

A part of the process of accreditation is to verify that the manufacturer meets minimum local content requirements. PV projects which receive BNDES funding must use a portion of locally produced equipment.

BNDES also indicated in the press release that it is processing applications for accreditation by four other PV module manufacturers. Of these three are foreign companies and one Brazilian. Once complete, the capacity of these PV module factories will be around 1 GW, according to BNDES.

In the case of these final companies, which are said to be large companies, these will “bring more certainty to the sector, as these will have the capacity to handle procurement projects and distributed generation,” according to the bank.

To date Brazil has completed three solicitations for solar PV, in which it has awarded around 3 GW of projects. This year the nation will hold another two auctions for solar PV, on July 29 and October 28.

This article was translated by Christian Roselund. For the original in Spanish, please see the pv magazine Latinoamérica website.