Brazil’s National Social and Economic Development Bank (BNDES) has approved financing of BRL 26 million (USD 9.6m/EUR 8.1m) for the construction of a photovoltaic (PV) modules factory by Pure Energy Geracao de Energia Ltda.

The financing, equivalent to 75% of the total investment, is the first approved by BNDES for a supplier in the solar energy segment, the bank said on Tuesday.

Pure Energy, which is controlled by local construction company Cerutti Engenharia, will use the funds for general expenses, innovation, national and imported equipment.

The project aims to include national components in the PV modules. The company will install the facility in Marechal Deodoro, Alagoas state, along with a PV power plant of 1 MW for own energy supply and tests.

SeeNews Renewables | January 7, 2015

Derick Lila
Derick is a Clark University graduate—and Fulbright alumni with a Master's Degree in Environmental Science, and Policy. He has 8+ years of solar industry research, marketing, and content strategy experience.

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