BNDES sets Brazil solar credit rules

Tuesday, August 12, 2014

Brazil's solar energy developers must meet new local content conditions to access credit from national development bank BNDES, the lender said on Tuesday.

Rules include a commitment to progressively raise the percentage of Brazil-sourced equipment and services, BNDES said in a statement.

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"BNDES wants to make the most of solar power's entry in Brazil's energy matrix by helping to develop a local supply chain for the industry," the bank said.

No details were given about the scope of financing or the minimum local content requirement.

Solar power has been given its own category for the first time at Brazil's October 31 reserve energy auction.

According to power regulator Aneel, 400 solar projects have registered for the round, with a combined installed capacity of 10GW.

The auction is designed to guarantee future supply by providing supplementary energy to the country's grid. Projects are due online in 2017.

BNamericas will host its fourth LatAm Power Generation Summit in Santiago, Chile, on August 13-14. Click here to download the agenda.