BNDES supports BRL941.6 million for the 40 MW UTE Sao Martinho Bioenergia project in Pradopolis

Brazil's National Development Bank (BNDES) has approved funding of BRL941.6 million (US$175.32 million) to support Sao Martinho SA for the development of the 40 MW UTE Sao Martinho Bioenergia project located in the municipality of Pradopolis, Sao Paulo, Brazil. 

The project will use sugarcane bagasse as fuel and supply the consumption demand of the other plants in the complex. 

The financing of BRL941.6 million (US$175.32 million represents 79% of the total investment, which adds up to BRL1.2 billion (US$223.43 million). The forecast is that the projects will be fully implemented by 2026.