The Brazilian Development Bank (BNDES) has approved a BRL 500 million (USD 86.8 million/EUR 80.6 million) loan to support the construction of a biomass-fired power plant and an ethanol-producing facility in Mato Grosso state.
The financing will aid Tres Tentos Agroindustrial SA in building a biomass steam and electricity cogeneration plant capable of generating up to 184,000 MWh annually.
The loan will also enable the installation of an ethanol plant that will produce biofuel from corn and sorghum. The plant is expected to have an initial capacity of 935,000 liters of ethanol per day.
BNDES has been significantly active in supporting Brazil’s biofuels sector, approving BRL 3.9 billion in funding for biofuels projects from January to October 2024, the second-highest annual figure since 2005.
