Fundraising activity for solar leaped in the July-to-September period to provide healthy quarterly and year-so-far comparisons on 2018.
The São Pedro solar complex is in Bom Jesus da Lapa, Bahia state. The plant, awarded a 20-year PPA in Brazil’s 2015 renewable energy auction, was installed with Jinko and Canadian Solar modules. The latter makes modules in São Paulo.
The new funds will come from Brazilian development bank, BNDES and will help small businesses, individuals and communities to implement commercial solar PV and wind power projects. Financing will be granted to projects using equipment that complies with local content requirements.
After improving financing conditions for solar and renewable energy projects in upcoming auctions in November, the Brazilian Development Bank has now agreed to considerably reduce the interest rate for loans devoted to projects in the areas of public safety, innovation, environment, solar energy, sanitation, solid waste treatment and professional qualification.
The development banks of Brazil and Germany will jointly support, among other things, solar, wind, mini-hydro and biomass power projetcs.
The Brazilian Development Bank (BNDES) has changed its loan committments, and will now cover 80% of the financing of all competing technologies, compared to the previous auctions, where this percentage was granted solely to solar. As in the previous auctions, financing will only be allocated to projects using locally-manufactured equipment.
The funds will be used for the country’s renewable energy program and will be provided by the Brazilian Development Bank (BNDES) and the Inter-American Development Bank (IDB).
The funds will be devoted to large-scale wind and solar projects across Brazil.
Projects selected in an upcoming auction will have access to a financing scheme of the Climate Fund (Fundo Clima) managed by BNDES
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