Banco do Nordeste to provide financing for 482MW of solar projects in Brazil

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. Image: iamme ubeyou / Flickr

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.

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.

Tags: brazil, banco do nordeste, scatec solar, enel green power, investment, finance