The Brazilian Development Bank, or BNDES, has authorised a BRL-1.14-billion (USD 202m/EUR 183m) loan to support the construction of 402 MW of solar photovoltaic (PV) projects in the states of Sao Paulo and Ceara.

Specifically, EDP - Energias do Brasil SA (BVMF:ENBR3) has been granted BRL 805 million for the installation of the 254.6-MW Novo Oriente PV complex in Ilha Solteira municipality, Sao Paulo, while PowerChina (SHA:601669) has been awarded BRL 339 million for three projects in Mauriti, in the south of Ceara, with a combined capacity of 147.33 MW.

The bank said in a statement that it has now reached BRL 11.8 billion in financing for PV plants since its first operation in 2017. Overall, BNDES has supported the construction of 23 projects, with almost 4.5 GW of installed power, it noted.