The Brazilian Development Bank (BNDES) has approved a BRL 600 million (USD 110.7 million/EUR 100 million) loan to support the construction of the 422-MWp Irapuru Solar Complex.
The financing will be used by Irapuru Holding SA, a vehicle company, to further develop the project, which forms part of the broader Janauba Solar Complex in Minas Gerais state.
Irapuru will feature seven solar parks, expanding the overall capacity of the Janauba Solar Complex to 1.6 GWp once completed.
Together, the combined renewable energy output from the Irapuru and Janauba facilities is expected to meet the electricity needs of approximately 1.9 million homes in the region.
BNDES's loan will cover 50% of the total investment required for the project. The disbursement is being made from the bank's Climate Fund and its FINEM financing program, both of which are aimed at supporting sustainable and climate-related initiatives.
