BRICS New Development Bank and Brazil Development Bank invest in Brazil renewable energy projects

The Brazil Development Bank (BNDES) announced that it has has raised USD 156 million together with the BRICS New Development Bank (NDB) to back renewable energy project investments.

The NDB and the BNDES signed a USD 300 million agreement in 2017 and this a final part of the signed agreement.  This final fund is meant for two projects – the 326.7- MW Campo Largo I wind complex and the 120-MW Pirapora I solar complex.

Cargo Largo received USD 190 million from each institution , for the implementation of 11 wind farms in Bahia state.

The photovoltaic (PV) project received USD 163 million from the two banks to develop four solar farms in Minas Gerais state, reports The New development has invested USD 61 million in the projects. 



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