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Brazil’s development bank funds solar PV project

The Brazilian Development Bank (BNDES) has confirmed it is to part-fund a solar photovoltaic (PV) project in Brazil’s north-eastern state of Alagoas.

Esmerk Latin Americas News reported that the BNDES would lend $9.67m, covering 75 per cent of the overall project cost.

The new solar plant will be developed under the BNDES programme ‘Inova Energia’, an initiative that encourages the use of crystalline silicon solar panels.

The 1 MW plant will cover an area of 80,000 square metres.

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