To support projects that aim to expand and/or modernize the country’s infrastructure of energy generation, winners of A-4 and A-6 New Energy Auctions of 2017.
Companies with seat and administration in Brazil and legal entities governed by public law.
Projects of solar, wind, hydroelectric, biomass and natural gas-fired combined cycle energy, winners of A-4 and A-6 Auctions of 2017.
Note:
R$ 20 million. For lower values, refer to BNDES Automatic financing lines.
Note: Projects to be financed through BNDES Automatic lines should follow the financial conditions at the time of submission of the financing request.
Interest rate = Cost of funds + BNDES’ margin + Risk spread where:
Composition of interest rates for direct support
Cost of funds = TJLP (Brazilian long-term interest rate) or TLP (long-term rate) or IPCA (consumer price index), at the Customer’s discretion
BNDES’ margin = According to conditions existing at the time of project framework
Credit risk spread = According to conditions existing at the time of project framework
Interest rate = Cost of funds + BNDES’ margin + Financial intermediation rate + Commercial bank spread, as follows:
Composition of interest rates for indirect support
Cost of funds = TJLP or TLP or IPCA, at the Customer’s discretion
BNDES’ margin = According to conditions existing at the time of project framework
Financial intermediation rate = According to conditions existing at the time of project framework
Commercial bank spread = Negotiated between the Commercial Bank and the customer/project.
Also, refer to other rates charged in BNDES’ financing contracts.
For solar energy:
“C Factor” value shall be determined by the quantity of components manufactured and/or productive processes performed in Brazil, according to a new methodology for accreditation of photovoltaic equipment and systems. The greater the quantity of components manufactured or productive processes performed in Brazil, the greater BNDES’ financing participation.
For other energy sources:
The project shall have at least 20% investment of equity investment.
BNDES might acquire infrastructure bonds issued by the project.
Terms: (maturity)
The interest shall be capitalized during the grace period, which may be of up to six months after the entry of the project into commercial operation, set forth at the time of the deliberation regarding the credit granting.
Amortization System: PRICE or Constant Amortization System (SAC), at the customer’s discretion, respecting that set forth in the item Credit Value.
The loan amount shall be determined according to the project capacity of payment, expressed by Debt-Service Coverage Ratio (ICSD).
For the cases in which the customer opts for PRICE system, BNDES’ loan amount shall be calculated based on SAC system and minimum ICSD of 1.3, associated exclusively with BNDES’ debt service. In BNDES’ loan contract, amortization by PRICE system shall be established, and the customer must maintain minimum ICSD of 1.6, measured annually. If the client chooses fund-raising or bonds issuance in addition to BNDES credit, the minimum ICSD of 1.4, measured annually must be maintained, considering the sum of all project debt services, contracted or issued, during the whole period of BNDES’ contract.
For the cases in which the customer chooses the SAC system, there must be BNDES financing only for the project and the value of BNDES loan amount shall be defined based on minimum ICDS of 1.2. The minimum ICDS of 1.2, verified annually, shall be maintained during the whole period of BNDES’ financing contract.
Indirect support: negotiated between the accredited financial institution and the customer.
Direct support: Defined in the operation analysis, with the following highlights:
Personal guarantees: In the case of bank guarantees required until BNDES declaration of physical and financial completion of projects, they can have minimum term of validity of:
Dividends distribution: Dividends and interest on own equity (JCSP) may be distributed as follows:
Debt Service Reserve Account: It shall be equivalent to six months of the projects debt service (s).
Find out more about guarantees of operations with BNDES’ resources.
This document presents the conditions available at BNDES for those that win the bidding process for A-4 and A-6 New Energy Auctions of 2017, and it does not necessarily imply the future winners of the bid have the right to obtain funding. Once the results have been approved and the energy procurement and sale contracts signed, the winners must apply for BNDES loans, which shall analyze the application and registration status of each applicant and potential guarantors, as well as all legal, economic and environmental aspects of the projects presented.
Support requests are submitted to BNDES by the interested company or by means of the accredited financial institution, through previous consultation, filled in according to orientations of the information route and sent to:
Banco Nacional de Desenvolvimento Econômico e Social - BNDES
Área de Planejamento e Pesquisa - APP
Departamento de Prioridades - DEPRI
Av. República do Chile, 100 - Protocolo - Térreo
20031-917 - Rio de Janeiro – RJ
BNDES will gladly answer your message, regarding the financial conditions presented above, sent to the following e-mail: sup.ae@bndes.gov.br
Avenida República do Chile, 100 | Rio de Janeiro - RJ - Brasil - 20031-917 | Tel.: +55 21 2052-7447 / 3747-7447
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