EDP secures BRL 109 million from Sudene for Brazil PV portfolio

Brazil-based EDP Renováveis Brasil has received BRL 109 million (~$18.99 million) as the second installment of financing from the FDNE (Northeast Development Fund), approved by Sudene. The funding supports units II to V of the Monte Verde Photovoltaic Plant, located in Lajes, Pedro Avelino, and Jandaíra in Rio Grande do Norte. The total investment in the project is BRL 914.5 million (~$159.36 million) coming from FDNE. Banco do Brasil acted as the operating agent. The solar parks have a total capacity of 181.1 MW and are expected to produce 464,000 MWh of electricity each year, enough to supply over 192,000 homes. The project planned to create 260 jobs—112 during construction and 148 once the plants are running.The project included meeting environmental standards for licensing. It also involved tax revenues.