Germany’s development bank has approved a 37.2 million euro (US$52.4 million) loan to Brazil national utility Centrais Eletricas Brasileiras S/A (Eletrobras) for construction of the four-plant, 53-MW Sao Bernardo hydroelectric complex in Brazil’s Santa Catarina State.
Officials of Eletrobras and its utility subsidiary, Eletrosul Centrais Eletricas S/A, took part in a signing ceremony in December in Frankfurt, Germany, with German development bank Kreditanstalt fur Wiederaufbau (KfW).
The financing, part of a financial cooperation agreement between Brazil and Germany, is divided in two parcels of 13.2 million euros (US$18.6 million) and 24 million euros (US$33.8 million).
The Sao Bernardo complex includes the Itarare, Joao Borges, Pinheiros, and Barra do Rio Chapeu projects, totaling 53 MW. Eletrosul is to develop the projects in its first return to the generation sector since its generating facilities were spun off in 1998.