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BNDES to loan US$15mn to hydro projects

Bnamericas Published: Tuesday, June 08, 2004
Brazil's national development bank BNDES has approved 47mn reais (US$15mn) in financing for the 32MW Espora hydroelectric project in Goiás state and for the 9MW Furnas do Segredo project in Rio Grande do Sul state, the bank said in a statement. The bank will lend power company Espora Energética 30.8mn reais, or 31% of the total investment needed for the dam and a 35km, 138kV transmission line. Espora plans to start operations in November 2005. BNDES also agreed to lend consortium Jaguari Energética 16.1mn reais to build the 9MW Furnas do Segredo hydro project. The financing is 55.2% of total investments of 29.1mn reais. Jaguari Energética is formed by services company Guascor Serviços and Rio Grande do Sul-based distributor CEEE. The project also includes a 5mn real payment to the town of Jaguari for the concession of the dam, the statement said. In 2003, the bank approved 5.5bn reais in power sector financing: 4.2bn reais for hydroelectric projects, 823mn reais for transmission lines and 529mn reais for thermoelectric projects.

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