ANNOUNCEMENT 18 Sep 2020

In September 2020, IDB Invest, the investment branch of the Inter-American Development Bank, signed a loan of over USD 53.9 million to Atlas Juazeiro Comercializadora de Energia Ltda.

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

IDB Invest. Our Projects. New Juazeiro Bifacial PV Power Project (retrieved on 11/11/2020). Available at: https://www.idbinvest.org/en/projects/new-juazeiro-bifacial-pv-power-project

IDB Invest. News & Media. "IDB Invest reinforces the growth of solar energy in Brazil by financing four photovoltaic plants" of 26 October 2020. Available at: https://www.idbinvest.org/en/news-media/idb-invest-reinforces-growth-solar-energy-brazil-financing-four-photovoltaic-plants

Inception date: 18 Sep 2020 | Removal date: open ended

State loan

On 18 September 2020, IDB Invest signed a USD 53.9 million loan to Atlas Juazeiro Comercializadora de Energia Ltda., that belongs to Atlas Renewable Energy.

The objective of the resources is to finance four bifacial photovoltaic plants located in Juazeiro do Norte, in the state of Bahia. The financing will cover costs related to the design, construction, operation and maintenance of the 187 MW power plant.

In total, the total costs of the project are estimated at USD 140.7 million. In this sense, the participation of IDB Invest will be through a combination of senior and subordinated loans with a tenor of 14.8 years, denominated both in Brazilian Reais and United States Dollars.

IDB Invest, a member of the Inter American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. It counts with a portfolio of USD 12.1 billion in assets.

 

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