On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW Entwicklungsbank, has signed a €10 million (US$13 million) loan guarantee with Brazil’s Companhia Energética de Minas Gerais (CEMIG) for the Solar World Cup 2014 project.
The project will see the Mineirão and Mineirinho stadiums, located in Belo Horizonte, outfitted with rooftop photovoltaic systems, which hold a combined capacity of 2.6MW. Electricity produced by the project will be fed into the grid so that Brazilian consumers can benefit from the solar electricity.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Total investment for the project is projected at €14.25 million (US$18.7 million). The KfW loan will help fund the project and includes funds from the BMZ for interest reduction and a contribution of €4.25 million (US$5.6 million) from CEMIG. Further, the Deutsche Gesellschaft für Internationale Zusammenarbeit plans to support CEMIG in marketing the solar electricity and training technical personnel.
