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8.13.08
» BNDES approves R$ 1.2 bi
financial support to Brenco
BNDES approved financial support of R$ 1.2 bi for
Companhia Brasileira de Energia Renovável (Brenco) to
implement the Alto Taquari-Mineiros Plant, consisting of
four sugarcane processing units and crops, in the cities of
Alto Taquari (MT), Costa Rica (MS) and Mineiros (GO). The
project will provide 8.4 thousand direct jobs in crop
planting and harvest will be solely made by mechanical means.
Altogether, the units will have an installed milling
capacity of 15 million tons of sugarcane per crop, producing
1.4 million cubic meters of ethanol and may export up to 220
MW of electric power. Two of which are expected to be
started up by 2009 and two others in 1010.
Part of the project will be directly funded by BNDES and
another one will be transferred by means of a pool of banks.
Total investments amount to R$ 1.8 bi, split into the
industrial, agricultural and energy production areas. BNDES
funds to Brenco also include funding to environmental and
social projects, involving the community around the units.
The best features of the project supported by BNDES include
acquisition of national equipment, in the amount of R$ 880m,
creation of 8.4 thousand direct jobs and 100% mechanical
harvest. The units will work during the harvest in three
shifts of eight hours each.
Additionally, the project involves the construction of units
in new crops and large scale production. Brenco adopts
corporate governance practices and is focused on the
production of ethanol and electricity, two sources of
renewable energy under the government’s priority.
Several countries start to think in a new, cleaner and
renewable energy matrix, due to several factors, such as
skyrocketing oil prices, the conflicts in the main producing
areas and perspective of shortage of product still in this
century, plus the need to establish programs to cut
emissions of greenhouse effect gases.
Brasil outstands in the international scenario due to its
30-year experience in the use of bioetanol as am alternative
source of clean fuel, holding special features that assure
competitive edges against the other producers.
Such fact delivers an opportunity to reach a stable position
as supplier of renewable energy for the domestic and
internal market. Brazil has been increasing its domestic
market of alcohol consumption by increasing the fleet of
flex-fuel vehicles.
Within this context, projects like Brenco’s, which involve
large production scale with low costs, focused on ethanol
and cogeneration of energy, have been increasingly common in
BNDES operations portfolio. Bank disbursements for the
sugarcane sector, amount to R$ 10 bi since 2004 up to July
2008, have been huge.
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