Inception date: 24 Oct 2019 | Removal date: open ended
Still in force

State loan

On 24 October 2019, the BNDES has announced the approval of a BRAL 1.26 billion loan (USD 314.1 million at the time of the announcement) to Engie Brasil Energia, a subsidiary of the French multinational Engie.

The objective of the resources is to finance the implementation of the Umburanas Wind Complex which consists of eighteen wind farms and their respective power transmission systems. This project mainly involves the acquisition of wind turbines, civil works and connection system.

The total costs of the projects are estimated at BRL 1.6 billion (circa USD 398.9 million) from which the resources provided by the BNDES represent 78.8% of the total. 

The resources provided by the BNDES have been distributed via the FINEM credit lines that provide resources of minimum BRL 10 million (USD 2.5 million) for projects with social impact, and have an annual interest rate made of the market value long-term interest rate, plus the credit risk rate plus the BNDES remuneration that ranges between 0.9% and 2.1%, depending on the purpose of the credit line and the social impact.