The Banco Nacional de Desenvolvimento Economico e Social (Development Bank of Brazil) is set to provide up to BRL1.1 billion (US$195.7 million) of loans to support the development of two solar projects in Brazil.
The BRL910 million (US$158.46 million) will be used for the construction of the 415 MW Sol do Sertao Solar Complex in Oliveira de Brejinhos in the state of Bahia. The project is planned by Essentia Energia with an expected commercial operation before the end of 2021.
The remaining BRL194 million (US$33.78 million) will be used for the construction of the 90 MW Araxa solar project, consists of two solar farms, owned by Powertis SA. The project will be installed in the state of Minas Gerais. It is expected to be operational by the end of 2021.
The loans are provided under the Finem credit program of BNDES.
