ANNOUNCED AS TEMPORARYNo
In April 2013, the Brazilian government announced that it will provide funds amounting to BRL 3 billion for projects in the sector of ultra-high-voltage transmission, smart grids, photovoltaics, heliothermics and wind energy for the time period of 2013 to 2016. The program called Inova Energia will be financed by the Brazilian Development Bank (BNDES, providing BRL 1.2 billion), the Funding Authority for Studies and Projects (FINEP, providing BRL 1.2 billion) as well as the non-governmental National Agency for Electric Energy (ANEEL, providing BRL 600 million). Eligible applicants are mainly Brazilian companies. Foreign companies with offices in Brazil are also eligible to apply under the condition that they provide for technology transfer.
The assessment period for project proposals will last from 3 May to 28 November 2013. Accepted proposals will receive grants, loans and subsidies, whereas loans will have an interest rate as low as 2.5 per cent, or less than half of Brazil's benchmark interest rate known as SELIC.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
⚑ Please report this page in case you detect an inaccuracy in its content.