BNDES to extend conditions for financing electric power projects

Sep 06, 2001 02:00 AM

Brazil's national development bank BNDES will extend the conditions for financing electric power projects to increase the country's supply and help offset the current power crisis, the bank announced. The new measures include increasing BNDES' participation in new projects, extending deadlines for repayment, financing imported equipment and creating a power regulator within the bank itself, BNDES said.
BNDES will finance $ 576 mm of its $ 1.77 bn power projects portfolio approved in 2000-2001, representing 32.4 % financing by the bank itself. The bank's complete power project investment portfolio now stands at $ 14 bn, of which it will put up $ 7.09 bn.

Under the new measures, BNDES' will increase its stakes in hydroelectric projects with capacity above 100 MW to a 70 % ceiling from 35 %, and up to 80 % in the case of small-scale hydroelectric, thermoelectric, cogeneration, transmission, conservation and alternative energy projects. In addition, BNDES will take 100 % stakes in energy efficiency projects, acquisition of new machinery and equipment, rental of machinery and equipment and equipment rental companies.
Repayment terms have been increased to 12 years or more, in the case of hydroelectric projects of more than 100 MW, and in general deadlines are now independent of the maturity of the project, as was the case before.

Power projects already contracted, approved, under analysis and in the pipeline, include $ 4.02 bn hydroelectric investment that would provide 12,241 MW, $ 1.53 bn thermoelectric investment for 4,103 MW, $ 623 mm cogeneration investment for 926 MW, $ 468 mm small-scale hydroelectric investment for 821 MW, $ 2.1 bn distribution investment, and $ 1.24 bn in transmission.

Source: BNAmericas.com
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