Developers to tap Brazil fuel consumption fund
Power project developers in Brazil will be free to tap the government's CCC fuel consumption fund to help overcome rising costs associated with chronic work delays, the government said on Thursday.
The decree aims to fast-track priority projects that reduce the need for fossil fuel-fired thermoelectric plants in off-grid areas, according to the mining and energy ministry.
The ruling will allow a joint venture between state-run utility Eletronorte and Alupar to use CCC funds to partially resume its Manaus-Boa Vista transmission line in Brazil's Amazon region.
A large stretch of the project has been delayed due to a stalled environmental licensing process, according to Eletronorte.
The government said a list of strategic projects in the areas of transmission, distribution, generation, energy storage and energy efficiency would be eligible for the funds.
More information, in Portuguese, can be seen here.
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