ANNOUNCED AS TEMPORARYYes
On May 3, 2013, the Brazilian National Development Bank (BNDES) and the Funding Authority for Studies and Projects (FINEP) announced a new program that incentivizes R&D in the energy sector. Under the INOVA Energy program, Brazilian energy companies can apply for subsidised financing for their R&D projects. This program defines companies that produce and develop smart grid infrastructures, renewable energies with a special focus on solar and wind types and on the production and improvement of the supply chain of hybrid and ethanol based vehicles to fit under INOVA Energy’s program. The total funds available for INOVA Energy are R$ 3 billion (USD 1.5 billion).
Only companies that are based in Brazil may apply for these benefits and the financed projects must be undertaken on Brazilian territory. Companies that wish to apply must have revenues of over R$ 16 million or partner with a technological company which passes this revenue requirement. In the case of companies producing smart grid infrastructures, the revenue threshold is only of R$ 5 million. The interested companies must receive approval by the BNDES, FINEP, the Brazilian Ministry of Defense and the Brazilian National Electric Agency in order to benefit from the program. The BNDES and FINEP may finance up to 90% of the projects' total cost.
The Brazilian government, alongside with the Brazilian National Development Bank (BNDES) and the Funding Authority for Studies and Projects (FINEP), run and finance the program "INOVA firms". Originally launched in 2013, this program's main goal is to innovate new technologies and make Brazilian companies more competitive. The program achieves this by targeting new sectors through time and giving their companies temporal benefits by 1) financing R&D, 2) financing companies directly as shareholders, or 3) providing loans at subsidised interest rates. Involved governmental entities may also guarantee future demand for their goods in some cases. Sectoral programs are launched at the discretion of BNDES and last for a predetermined period of time where companies may apply.
⚑ Please report this page in case you detect an inaccuracy in its content.