New credit line to support renewable energy projects in Brazil

The Japan Bank for International Cooperation (JBIC) has signed a loan agreement with BNDES, Brazilian Development Bank, to set up a credit line totalling up to USD 1 billion for environment-related project focusing on clean energy in Brazil.

The financing, which establishes the fifth credit line from JBIC to BNDES, is part of JBIC’s renewable energy business operation, the ‘Global action for Reconciling Economic growth and Environmental preservation’ (GREEN).

This presents an incredible opportunity to further renewable energy projects in Brazil, and potentially grow the geothermal energy sector.

Brazil was recently highlighted by Zion’s geothermal energy market report as a promising country with huge potential for geothermal energy development.