Brazil bank finances two hydro projects totaling 57.3 MW

Brazil’s development bank has approved financing of 166.7 million reais (US$87.27 million) for construction of two small hydroelectric projects in Mato Grosso State totaling 57.3 MW.

Banco Nacional de Desenvolvimiento Economica e Social (BNDES) said July 4 it is funding two projects being completed by the Cornelio Brennand group, the 28-MW Canoa Quebrada project on the Verde River and the 29.3-MW Garganta da Jararaca project on the Rio do Sangue.

BNDES is providing 76.7 million reais (US$40.1 million) to fund 66 percent of the investment in Canoa Quebrada. It is providing 90.6 million reais (US$47.4 million) to fund 77.14 percent of the investment in Garganta da Jararaca.

The bank previously provided funding for another Cornelio Brennand project, 30-MW Buriti on Sucuriu River. BNDES provided 75 million reais (US$39.2 million) for that project, whose total investment was 116 million reais (US$60.7 million). (HNN 10/25/06)

Financial support was approved under Proinfa, the program of government support to alternative sources of electricity.

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