Brazil's Superintendency for the Development of the Northeast (Sudene) has approved a loan package of BRL 149.62 million (USD 27.6 million/EUR 24.7 million) for two solar projects developed by EDP Renovaveis Brasil.
The funding is sourced from Sudene's Northeast Development Fund (FDNE) and will support the construction of the Monte Verde Solar V and VI projects, which have a combined capacity of 98 MW.
The total investment required for the two solar parks is estimated at BRL 457.27 million, with Sudene contributing BRL 205.52 million to the initiative.
Located in the northeastern state of Rio Grande do Norte, the projects are projected to generate approximately 160,000 MWh of electricity annually once operational.
This financial backing underscores Sudene's commitment to fostering renewable energy development in the region, contributing to Brazil's broader goals of expanding its clean energy capacity.
