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Brazil development bank scraps support for coal plants

Posted at October 8, 2016 » By : » Categories : News » Comments Off on Brazil development bank scraps support for coal plants

Brazil development bank scraps support for coal plants


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Brazil’s development bank has announced a new funding policy which rules out investment in new coal and oil-fired power stations.

The country’s National Development Bank (BNDES) has also decided to cut economic support for new CCGT and big hydroelectric plants from 70% of total projects investment to 50%.

Instead, the bank plans to boost subsidies for clean technologies.

Solar projects will receive up to 80% of investment, up from 70% previously.

The bank will also finance up to 80% of the cost of energy efficiency projects.

Subsidies for wind, biomass and combined heat and power plants will continue at 70% of the value of the project.

The BNDES said the new measures will contribute to an increase in alternative energy infrastructures directing investments to projects with high social and environmental returns.


Article source: http://www.energylivenews.com/2016/10/08/brazil-development-bank-scraps-support-for-coal-plants/

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