BNDES assents to State Grid loan

BNDES assents to State Grid loan

Loans Corporate & Sovereign Strategy Project & Infrastructure Finance Electricity Brazil China

Brazil's national development bank BNDES has approved BRL5.2bn ($1.37bn) in long-term financing for Xingu Rio Transmissora de Energia (XRTE), a subsidiary of China's State Grid, LatinFinance has confirmed.  XRTE holds the concession to build and operate a 2,534km transmission line from the Belo Monte hydroelectric dam. The 24-year loan from BNDES covers 61% of the estimated costs for the BRL8.5bn project, according to a source at the development bank. The project finance facility is based on t

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