November 15, 2018 |
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 the
Brazil's national development bank earmarks $1.4bn in financing for a $2.25bn transmission line