BNDES selects Vinci to manage its sustainable energy fund
The Brazilian Development Bank (BNDES) through its investment subsidiary BNDESPAR has selected Vinci Partners to manage its BRL-500 million (US$162.9 million) sustainable energy fund.
BNDESPAR and Vinci will now toguether start the process of structuring the fund, discussing regulations and offering quotas to potential investors.
With a term of 15 years, the new fund will have up to 50% participation from BNDESPAR. It is supported by the Climate Bonds Initiative (CBI). The bank hopes the fund can encourage the creation of a green bond market in the country.
The Fundo de Energia Sustentavel aims to support infrastructure projects, primarily in assets supporting the transition a low carbon economy. The fund is expected to be operational by the second half of 2017.
BNDES estimates a volume of project debenture issues of approximately BRL3.8 billion, with BRL1.7 billion in wind energy projects in the next 18 months.
Country news
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April 12, 2017
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BNDES signs $272m loan for Brazilian wind projects
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March 10, 2017
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February 27, 2017
BNDES provides loans for two Brazilian wind complexes
The National Bank for Economic and Social Development (BNDES) has approved a total of BRL1.065 billion (US$342 million) in financing for the construction of eight wind farms in the state of Bahia, and four wind farms, located in Ceara state.
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February 20, 2017
IIC considers financing wind projects in Brazil
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