Brasil to finance microgeneration for renewable energy

Brasil to finance microgeneration for renewable energy

Editorial Staff
Share
The Banco do Nordeste launched a credit line to incentivize companies to build mini-plants for renewable energy generation

Brasil continues to promote a policy to subsidize costs for distrubutied power generation from renewable sources. In late 2015, the government had already launched a program to facilitate private wind and solar power generation for its citizens. Now, Banco do Nordeste has created ”SOL-FNE’, a new credit line dedicated to the installation of mini (75 KW – 5 MW) and micro (> 100 Kw) renewable energy power pants installation aimed at businesses in the agricultural, industrial, commercial and service provider industries, and also applies to cooperation and associations. As explained by Rodrigo Sauaia, director of the Brazial solar power association, SOL-FNE coul finance up to 100% of investments. This new credit line will use funds from the Northeast Constitutioanl Financing Fund (FNE) and features a payment deadline of 12 years with 1 year suspension period. Interest rates will vary according to the type of client and the characteristics of the project to be completed. "These interest rates are very attractive for our projects. Perhaps they may seem a bit high for Europe but not so in Brasil," said Sauaia. Brizl is in the midst of a significant political crisis, and its main oil company has been devastated by corruption scandals. The development of renewable energy is therefore one of the few certainties that the country can count on