As the first stage of the 390MW Pirapora solar plants is commissioned, Nelson Falcão, the head of NexTracker in Brazil – which supplied the tracking devices – concludes that financing in local currency, and more specifically, from the National Development Bank (BNDES) was essential for the success of the project, as it will be for the expansion of solar PV in Brazil.

“Good financing conditions are more important than any tax incentives we can receive, so it’s important to have competitive financing from the BNDES,” he told Recharge.