September 28 (Solar) – The Brazilian Development Bank, or BNDES, announced on Thursday it has created a BRL-2.2-billion (USD 551m/EUR 473m) credit line for renewable energy projects in the country.
Named BNDES Finame – Energia Renovavel, the line targets individuals as well as small and medium-sized business, according to the press release from the federal government.
It will finance up to 100% of the acquisition of photovoltaic (PV) generation systems, wind turbines, installation services and other equipment. It has a payment term of up to 10 years and a two-year grace period.
During the launch ceremony, President Michel Temer stressed that the initiative is in line with the country's commitment to stimulate economic and social development in a sustainable way, benefiting both the population and companies. The head of BNDES, Dyogo Oliveira, added that the new credit line will help boost the development of new technologies in Brazil.
(BRL 1 = USD 0.25/EUR 0.21)