Powertis secures BRL520mn financing for Graviola solar project

Powertis, the global solar PV project development division of Soltec Power Holdings, and BNB, Banco de Nordeste do Brasil, have signed an agreement for the financing of a new solar photovoltaic project in Brazil amounting to BRL520 million (US$102.53 million). 

The project, named Graviola, is located in the municipality of São João do Piauí (Brazil) and will have an installed capacity of 375 MW.

The agreement, which involves a credit line for a period of 24 years, at a cost of IPCA + 1.89% per annum, has received advisory support from Itaca Advisory and represents a further step in the growing scale and value of the company’s projects.