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BNDES okays funding for 40 MW of biomass projects in Brazil

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The Brazilian Development Bank, or BNDES, has approved financing of BRL 80 million ($15.5m/EUR 14.7M) for the construction of 40 MW of biomass power plants in Roraima state.

BNDES has granted the loan to Oxe Participacoes S.A., which owns the entities developing the Bonfirm, Canta, Pay Rainha and Santa Luz projects located in the municipalities of Canta and Boa Visa.

The four plants are designed to use wood chips and wood industry waste as fuel and will be able to generate enough clean electricity to meet the demand of 148, 000 local homes.

Roraima is the only Brazilian state not connected to the National Interconnected System (SIN).

The loan is part of the bank’s BNDES Fundo Clima, a programme to support investments in energy generation and local distribution of renewable energy.