Brazilian bank Banco do Nordeste announced that it will provide financing for a portfolio of PV projects in Brazil that boast a combined generation capacity of 482MW.
As part of the announcement, Banco do Nordeste will provide Enel Green Power with US$212 million for three PV projects with a combined capacity of 350MW. Two of the installations will be developed in Bom Jesus da Lapa and Tabocas do Brejo Velho in the Brazilian state of Bahia – while the other PV project will be built in Ribeira do Piauí in the state of Piauí.
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In addition, Banco do Nordeste noted that Enel Green Power is also providing US$245 million of its own funding for the trio of PV projects.
Along with these three projects, Banco do Nordeste will also finance the 132MW Apodi solar installation – with the site currently being developed by Scatec Solar, Kroma Energia and Norwegian oil company Statoil.
As part of this financing agreement, Banco do Nordeste will provide a loan of US$147 million, while the remaining companies tied into the Apodi installation will issue US$57 million of their own funds for the site.