BNDES Writes Big Hydro Check

BNDES Writes Big Hydro Check

Brazil Loans Project & Infrastructure Finance

BNDES is providing BRL22.5bn ($10.8bn) in 30-year funds for the 11,233 megawatt Monte hydroelectric plant, the development bank says. It is directly funding BRL13.5bn to the Norte Energia special purpose company, with a portion of the funds also routed through Caixa Economica Federal (BRL7bn), and BTG Pactual (BRL2bn). The TJLP-based interest rate is not disclosed. The disbursement of funds is expected to follow the construction schedule, with the first of the plant’s 24 turbines due to come onl

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