France’s EDF Renewables has become the latest developer to raise multi-source financing for a project in Brazil with backing from the InterAmerican Development Bank (IDB), which is seeking to ramp-up its role in the nation's renewable energy sector.
EDF Renewables, which owns of 80% of the 399MW Pirapora solar PV complex, and minority partner Canadian Solar raised R$220m ($58m) from local currency, tax exempt bonds – known as infrastructure debentures – with backing from IDB’s private financing arm IDB Invest.
