Norte Energia receives first BNDES credit for 11.2-GW Belo Monte hydroelectric project

Brazil’s Norte Energia SA has received the first installment of a US$10.8 billion financing package from the Banco Nacional de Desenvolvimento Economico e Social (BNDES) for the Amazon’s Belo Monte hydroelectric project.

The $2.54 billion credit is part of a deal approved by BNDES in November 2012.

Norte Energia says it received a direct deposit of about $1.5 billion this past week, with the remainder being credited to agent Caixa Economica Federal and investment bank BTG Pactual yesterday.

The $13 billion, 11.2-GW Belo Monte hydropower plant is to be located on the Xingu River and will be the world’s third largest hydroelectric complex when completed.

Previous articleHydro power industry benefits from fiscal cliff deal
Next articleGuadeloupe invites firms to bid on Moreau Dam construction

No posts to display