The measure simplifies rules, increases the Bank’s participation in financing, especially for MSMEs and gives flexibility to the accreditation
Directors of the Brazilian Development Bank (BNDES) approved adjustments to the methodology used for the accreditation of national photovoltaic modules and systems. The methodology enables support for electricity generation projects from the photovoltaic solar source by allowing the accreditation of equipment in the computer system of the Bank, establishing specific criteria for the photovoltaic module and solar generation system.
The approved adjustments simplify the rules, raise the BNDES participation in financing (mainly for micro, small and medium-sized companies), increase flexibility, reduce the scope of obligations and extend the deadlines for changing the incentive levels. The goal is strengthening the Bank’s support to help consolidate the market and the photovoltaic solar energy industry in Brazil.
With the adjustments, which are aligned with the demands put forward by the representative entities of the sector, the Bank seeks to make the methodology, created in August 2014 more adherent to the current reality, considering the investments that were made and are still ongoing, as well as developing and future projects.
Another goal is meeting the need to improve the conditions to make the distributed generation feasible, a segment with great participation of MSMEs, which are strategic priorities to BNDES. For companies of this size, the Accreditation Factor (formerly called N Factor) will no longer be applied and FINAME operations shall have conditions of up to 80% of participation from BNDES and up to 10 years of term in the financing.
“The best conditions, in terms of rates and term, to smaller companies open up the possibility for them to produce their own energy from a clean source available throughout Brazil,” evaluated the Indirect Operations Superintendent of BNDES, Marcelo Porteiro.
To the Executive President of the Brazilian Association of Photovoltaic Solar Energy (ABSOLAR), Rodrigo Sauaia, the new methodology shall strengthen investments in the supply chain and new solar photovoltaic projects of small, medium and large sizes.
“ABSOLAR considers that the BNDES initiative reduces uncertainties and overcomes challenges pointed out by the sector. The Bank has demonstrated commitment to the establishment and development of this renewable, clean and sustainable source in Brazil,” stated the president.
The sector in figures – According to BNDES, over R$ 200 million have already been invested in new factories, adjustments or expansions for implementation of new production lines, generating around 1,000 direct industrial jobs.
Last month, the Bank approved the first major funding for solar photovoltaic power generation in the amount of R$ 529 million, referring to five photovoltaic solar plants, in a total of 150 megawatts (MWa.c.) of alternating current power, equivalent to 191 megawatt-peak (MWp) of nominal power.
Detailed information on regulations and standards can be found on the links below: