Enigin Update - EIB Provide €500M Loan to Brazil for Energy Efficiency and Renewables
THE European Investment Bank (EIB) is providing a €500 million loan to The Brazilian Development Bank (BNDES) of Brazil for projects in the renewable energy sector and improved energy efficiency.
The objective of this operation is to support investments that generate environmental benefits with respect to combating climate change. Schemes will contribute to reducing greenhouse gas emissions by generating renewable energy and many will focus on increasing energy efficiency, including in industrial applications or support investments for climate change adaptation.
The EIB’s Brazil Climate Change Mitigation framework loan will provide financing for small and medium-size investments in the renewable energy and energy efficiency sectors.
Under the eligibility criteria established in the signed loan agreement, BNDES will select from its portfolio the eligible projects and will submit them to EIB following the agreed allocation procedures.
This loan is provided under the €4.5bn Energy Sustainability and Security of Supply Facility (ESF). This will be the first operation structured under the ESF in Brazil and the first Bank operation with BNDES, the Brazilian State development institution, which will on-lend the Bank’s financing to the final beneficiaries.
Enigin Distributors in Brazil will welcome this initiative to encourage businesses and organisations to turn to them to access the cutting edge technology from Enigin and gain control of energy use, reduce emissions and utility bills.
Picture of Rio de Janeiro by Pedro Kirilos reproduced under CCL.
