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04.07.08
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BNDES finances R$ 35,3 billion energy projects
· Investments in energy generation will add 14,2 thousand MW to the Brazilian current power plants
The portfolio of BNDES, the Brazilian Development Bank, includes 122 energy projects, which will demand financing amounting to R$ 35,3 billion and will enable total investments in the Brazilian economy of R$ 62 billion. The greatest portion, around 90%, will be allocated to energy generation.
The Bank currently holds 101 ongoing electric power generation projects, corresponding to and addition of 14,2 mil megawatts (MW) to Brazilian current power plants, of 100 thousand MW. The new investments supported by BNDES will generate power energy to supply a region sheltering roughly 30 million people.
Energy has become one of the major segments in BNDES's strategic planning, which has brought changes to the Bank's operational policy. Interests charged in energy project financing dropped from 3%, in 2005, to the current 0.5% per annum, one of the lowest rates ever seen in BNDES credit facilities. Broadly speaking, the maximum basic spread charged by the Bank amounts to 3% per annum.
Consolidated results - BNDES's portfolio in terms of energy projects in 2003 up to 2008, including projects pending approval, amounts to financing of R$ 65 billion and investments of R$ 112,8 billion. As many as 229 projects will add 29 thousand MW to the Brazilian power sector.
In terms of power transmission, the 48 projects of the Bank, in the period analyzed provide R$ 8,3 billion in financing. The facilities add to the Brazilian Interconnected System 15,2 thousand kilometers of transmission lines, which are critical to address the growth in power demand in locations away from large city centers.
PAC - Out of BNDES energy projects, 93 are included in the Growth Acceleration Program (PAC), amounting to R$ 36,5 billion of financing and investments of R$ 60,6 billion. From these, 59 have been approved, most of which, 53, consist of energy generation projects, which financing of R$ 10,9 billion and installed capacity of 4,6 thousand MW. The PAC energy generation projects altogether, in BNDES, will provide additional 15,4 thousand MW to the Brazilian installed capacity.
Among the main projects approved we can name the Estreito Power Plant (UHE), with 1.087 MW (R$ 2,7 billion financing), Foz do Chapecó Power Plant, with 855 MW (R$ 1,7 billion financing) and Simplício Power Plant, with 334 MW (R$ 588 million financing).
In bioelectricity, BNDES holds eight projects, with total generation capacity of 366 MW, corresponding to R$ 819 million financing. Among the leading projects approved we can highlight the Beberibe wind power plant (R$ 94,9 million financing and generation of 26 MW), Santa Cruz power plant, powered by sugarcane waste (R$ 121,1 million financing and generation of 45 MW) and Lorenzetti power plant, supported by a R$ 152,3 million financing and 52 MW of capacity.
Annual performance - In 2007, the approvals granted totaled R$ 12,7 billion, representing an jump of 270% as compared to the previous year. Figures represent an addition of 3,6 thousand MW of generation capacity and 2,8 thousand kilometers of transmission lines.
In that period, 28 financing programs for Small Power Plants (PCH) were approved, with generation capacity of 528 MW (corresponding to a large-sized power plant), to which the Bank financed R$ 1,7 billion. In biomass, approvals totaled an installed capacity of 111 MW, with four projects and financing amounting to R$ 419 million.
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