Brazil banks snub PV finance

A rare Brazilian PV project at a football stadium in Bahia state

A rare Brazilian PV project at a football stadium in Bahia state

Brazilian state banks Banco do Brasil and Caixa Econômica Federal have rejected calls to create a specific financing line for small-scale distributed solar projects, says a government agency.

Despite recent net-metering legislation, small-scale installations have yet to take off in Brazil, and the National Industry Development Agency (ABDI) believes lack of finance is the main reason for the lull in PV projects.

Eduardo Tosta, an energy specialist with ABDI, tried to convince the state banks to back an aggressive push to stimulate the market.

However, Tosta says the institutions claimed that it would be too expensive and problematic to create such financial products.

“After the net metering rule came out, the second step is to find a solution to finance the projects cheaply,” Tosta told a renewable energy Log in to read complete article.

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