Brazil's BNB finances 4.5-MW solar project

Solar panels by iamme ubeyou.

April 16 (Renewables Now) - The Brazilian Northeast Bank, know as Banco do Nordeste (BNB), announced on Monday that it is financing a 4.5-MW solar photovoltaic (PV) project for agricultural irrigation in Bahia state.

More specifically, the bank will disburse BRL 22.4 million (USD 5.8m/EUR 5.1m) through its FNE Sol credit line to the Manicoba Irrigation District (DIM) located in Juazeiro city. The PV facility will require a total of BRL 24.9 million in investments.

According to BNB's president, Romildo Rolim, the equipment to be acquired has an estimated useful life of more than 20 years, while the financing is expected to be paid out within five years.

Once operational, the Juazeiro project is estimated to benefit 625 rural producers and approximately 2,500 residents of the region when it comes to the pumping of water from the Sao Francisco River.

(BRL 1 = USD 0.26/EUR 0.23)

More stories to explore
Share this story
About the author
Browse all articles from Lucas Morais

Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription